Why the U.S. can’t get inflation under control, explained in seven charts

The Globe and Mail · Joy SpearChief-Morris · 2026-11-01 12:00 UTC

With midterms arriving on Nov. 3, here’s how grim the landscape is for gas prices, groceries, housing and more

With inflation, interest rates and gas prices putting continuous pressure on the cost of living, affordability has become the top issue for many American voters as they head to the polls on Nov. 3 for the 2026 midterm elections.

Just two years ago, U.S. President Donald Trump capitalized on voters’ frustrations with steep inflation during the Biden administration, securing the presidency for a second time with promises of lowering prices for Americans.

But in many ways, life hasn’t gotten cheaper. Inflation is still far higher than monetary policy makers aim for, and general prices have recently grown at faster rates than wages. For some products such as new vehicles, prices have stabilized but remain far higher than just a few years ago.

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