WASHINGTON – Inflation and the economy look to be a major issue this election. Both sides are talking about it while Americans are feeling it – at grocery stores, in housing costs, electric bills, and more. And while some economic areas are improving and inflation appears to be slowing, there remains a feeling of heaviness.
CBN News caught up with voters in one northern Virginia suburb to get a sense of how they’re feeling.
All agreed that the cost of living is too high.
“Everything is getting expensive and income is not going higher,” one woman said. “The houses, the rentals are high, the mortgages are super high.”
And she’s not wrong. Rent and electricity bills are up by 10 percent or more over the past two years. Car insurance is up as much as 40 percent in some places according to the Labor Department.
Yet as heavy as inflation may feel, the increases appear to be slowing. Big ticket items like cars, TVs, plane tickets, and even gas have dropped over the past year. The overall pace of year-over-year inflation, measured by the Consumer Price Index, just dropped to three percent, much lower than the high of nine percent only
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