President Donald Trump campaigned on a promise to lower consumer prices, which jumped dramatically during Joe Biden's term, but now he is facing the same difficult reality.
This is commented by "Reuters".
Once prices rise, they rarely fall, and Americans hate higher prices, listed news.bg.
Trump may now be making some of the same mistakes as Biden, including underestimating the impact of higher prices on households and relying on corporate investment to stimulate employment and wages - a strategy that takes years to bear fruit.
Inflation has fallen and is hovering around 3% annually, compared to more than 9% in its peak under Biden.
But goods — especially those targeted by Trump’s tariffs — cost more than they did before, and wage increases for many have been largely offset by higher prices.
Food prices have been slowly rising, led by the products Americans love to eat, such as a nearly 15% increase for beef, 7% for bananas and more than 20% for coffee, according to the latest consumer price index data.
In recent days, including at the start of a state visit by Saudi Crown Prince Mohammed bin Salman, Trump has repeatedly touted what he believes will be trillions of dollars in new investment, while also claiming that inflation is under control, citing relatively low gasoline prices as key evidence.
"It’s strikingly similar," said Michael Strain, director of economic policy research at the conservative American Enterprise Institute. "The mistake they both make is that they don't accept the fact of life, the fact of politics - that Americans really care about rising prices."