Worst inflation since 1982 puts Democrats in political jeopardy
CBSN
Democrats will defend the smallest House and Senate majorities in decades in the midterm elections, and Republicans have seized on inflation as a key issue. Last year saw the greatest increase in price in nearly 40 years – putting Democrats on the defensive as people across the country feel the strain of higher prices on everyday life from food to gas and paying rent.
Prices are up 7% from a year ago, the fastest pace of inflation since 1982. Price hikes in housing and used cars and trucks were among the increased costs driving inflation, as is the cost of food. Energy prices were also higher than a year ago, though the cost of gas eased a little in December.
As prices soar, Republicans are slamming the Biden administration and congressional Democrats, claiming the increases are the result of Democrats' policies and "reckless spending."
