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How Trump Won the Economy-Is-Everything Election
Keywords: Wsj Analysis Of 2024 Election,
Tags: Current Focus, Renewal America, United States, Retail, Food, Housing / Real Estate, The Economy, Inequality / Upward Mobility, Movement for Renewal of America, 2. Cost of Living Action, 5. Bringing Jobs and Factories to the US, 6. Capital Allocation for Infrastructure, Goods and Services, 10. Health- Body/Mind Wellbeing for All ,
It came down to the price of eggs, bread, basic items on a grocery list. And Democratic politicians including Harris were not seen as sensitive to the pain, being the incumbent meant they were the ones who were responsible for letting prices get out of hand. This isn't just the WSJ analysis in its conversations with ordinary Americans.
About 50 percent of Trump voters said higher prices were the largest factor in their decision, according to AP (Associated Press) VoteCast.
The Labor Department’s measure of consumer prices was up 20% higher in September 2024 than January 2021—the largest increase in the last 45 years for one presidential term.
Average Year-Over-Year Inflation Rate by President
Carter 1977 - 1981. 9.9%
Ford 1974 - 1977. 8%Biden 2021 - 2024 5.2%
Nixon 1969 - 1974. 5.7%
Reagan 1981 - 1989 4.6%
H.W. Bush 1989 - 1993. 4.3%
W. Bush 2001 - 2009. 2.8%
LBJ 1963 - 1969. 2.6%
Clinton 1993 - 2001. 2.6%
Trump 2017 - 2021 1.9%
Obama 2009 - 2017. 1.4%
Eisenhower 1953 - 1961. 1.4%
JFK 1961 - 1963. 1.1%
Overall Inflation Rate
Data seasonally-adjusted Consumer Price Index for all items, current as of Aug. 2024.
Chart: Adrian Nesta Source: BLS Consumer Price Index
This also places a special burden of responsibility on the new DJT administration to take action on prices of everyday goods and groceries.
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