2024 US Election: American voters’ concerns soar over inflation impact

Washington, DC – The economy is a driving issue in today’s presidential election in the United States, voters at the polls said.

This is tracked by a September report that said around 81% of U.S. voters cited the economy and high inflation as their top concern, followed by healthcare and Supreme Court appointments, according to a survey from Pew Research Centre.

Ben Frank, 34, a resident of Pennsylvania, said he has to pay more to raise a family of seven: “The food prices went incredibly high after the pandemic,” Frank said. “I used to pay US$150 (HK$1166.2) for one week, and it cost me US$200 (HK$1554.92) now.”

James Wright, who works at mega retail outlet Target in Pennsylvania, said, “Food and gas are so much more expensive than before.”  In the last month, he spent around US$1,000 (HK$7774.76) on food, gas and other bills, over half his salary.

Trump inaccurately blamed Biden’s government in the debate with Kamala Harris: “We have inflation like very few people have ever seen before. Probably the worst in our nation's history.” 

The inflation rate in the world’s biggest economy reached a three-year-low of 2.4% in September from a peak of 8% in 2022, according to the CoinNews Media Group. The inflation averaged 1.9% from 2017 to 2021 when Donald Trump was president, while the average rate has been on track at 5.6% in the past three years.

Frank said that Donald Trump could solve the issue, although no further policies were given by the former president except to levy more tax on Chinese and other imported goods.

People love Trump because he can bring something special, Frank said, and he thinks Trump’s policy may work if Americans consume more from nearby countries with lower transportation fees.

Harris proposed tackling high prices by fighting against businesses not “playing by the rules” to ensure competition and lower prices. Many Democrats shared the view, saying that the high inflation issue was a leftover from the pandemic. 

“I don’t think Donald Trump can address the inflation issues,” said Kit Breithaupt, a junior at Pennsylvania State University. “The high inflation now was caused by how he tackled the pandemic.”

Trump signed a total of US$6 trillion (around HK$46.6 trillion) to boost the U.S. economy during the pandemic, pushing the inflation rate by three percentage points to 4.7% in 2021, according to the  CoinNews Media Group.

According to a report from rating company Moody’s, the inflation rate could increase to 3.5% in 2025 if the Republicans win the election in Congress and the White House, while the inflation could lower to 2% by the summer of 2025 if Harris wins the presidency.

Wright said he thinks inflation cannot be solved no matter who becomes the president, believing the prices will keep rising. 

“Life still goes on even if Trump or Harris wins,” he added. 

-Additional reporting by Chan Man-hei