AP
Producer Prices
Shoppers shop at a grocery store in Glenview, Ill., Wednesday, October. 14, 2026.
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President Donald Trump is trying to convince voters before the Nov. 3 midterm elections that the U.S. economy is rocketing upward. But voters say inflation remains a challenge as the Iran war has pushed up gasoline prices. Grocery bills remain expensive, and high interest rates make it harder to afford a home or a new car. Trump had promised to quash inflation. While inflation hasn't returned to peaks seen during President Joe Biden's term, it has climbed since April 2025. Interest on the 10-year U.S. Treasury note is above 5%. Meanwhile, the gap has widened between gains for the top 0.1% of households and the bottom half of households.
