CPI data is stable, the US election enters a critical moment
With the latest September Consumer Price Index (CPI) data released by the U.S. Department of Labor, the market is once again in deep thought. CPI increased by 0.3% month-on-month and 2.4% year-on-year. This data was neither as pessimistic as expected nor brought significant optimism.
Economic indicators have always been a key factor in U.S. elections. As an important data reflecting the level of inflation, CPI's performance directly affects voters' evaluation of the ruling party's economic policies. The release of CPI data this time did not allow former Republican President Trump to find enough points of attack. The data is good or bad, just like the current stalemate between the two parties in the US election.
In the upcoming U.S. election, economic performance will become one of the key factors that determine victory or defeat. In particular, the Misery Index, a measure that combines unemployment and inflation rates, has attracted much attention for its accurate prediction of election results. According to the latest data, the "misery index" in the United States remains at a relatively low level, which undoubtedly provides some support for the Democratic candidates. However, as the election approaches, any fluctuations in economic data could become a trigger that changes voters' intentions.
For Trump and his Republican supporters, they may use any possible opportunity to attack the Biden administration's economic policies. Although Trump's economic policies during his term have caused controversy, his proposals for lowering tax burdens and promoting employment have still won the support of some voters to a certain extent. Therefore, during the general election, Trump and his team are likely to continue to emphasize these claims in order to win over voters.
With the release of CPI data and the approach of the general election, the U.S. political and economic fields will usher in more intense competition and games. Both the Democratic Party and the Republican Party need to go all out to demonstrate their advantages and achievements in order to win the support of more voters. For the majority of voters, they also need to look at various economic data and policy proposals more rationally to make choices that best serve their own interests.
