NEW: Consumer Price Index Shows Rising Inflation, as Consumer Sentiment Report Shows Americans Souring on Trump’s Economy Arrow

New economic data released today show - once again - that Donald Trump's catastrophic economic policies and reckless trade war have sent the economy into a tailspin - and everyday Americans are paying the price.

New reports show that Americans continue to express frustration with Trump's economy - and for good reason. According to the Consumer Price Index report released today, the year-over-year inflation rate increased to 3.02%, the highest rate since May 2024. And prices are only expected to increase even further in the coming months. Thanks to Trump's disastrous tariffs, working families are struggling to afford some of the highest grocery and housing prices ever, and a whopping 4.1% rise in gas prices in September alone.

Americans, including Trump's own supporters, are increasingly worried about his economy. Inflation remains at the forefront of everyday Americans' minds, and Consumer Sentiment data reveals that long-term inflation expectations jumped in October, notably driven by Republicans and Independents.

New polls from Quinnipiac and CNBC this week similarly show that Trump's approval on the economy has plunged, thanks to soaring inflation, a job market in turmoil, and Trump's government shutdown.

In response, DNC Rapid Response Director Kendall Witmer released the following statement:

"As if things couldn't get worse under Donald Trump's watch, nearly every new economic indicator shows Trump's economy is taking a nosedive, and inflation is worsening from his policies. Because of Trump, working families can't afford groceries, the job market is in freefall, and 22 million Americans are about to see their health care premiums skyrocket - but Trump's 'main priority' is his $350 million gold ballroom. It's everyday Americans who are paying the price of Trump's failing economy - while the rich get even richer off Trump's tax cuts for the top 1%."

Just yesterday, Trump claimed that he'd "already taken care of" inflation - a slap in the face to the millions of working families who are struggling to afford their rent and basic necessities like groceries, gas, and prescription drugs. Trump already gutted health care and food assistance to pay for his billionaire tax breaks, and now he's refusing to extend enhanced ACA tax credits that would prevent health care premiums from skyrocketing. It's no wonder that, month after month, Americans are losing confidence in Trump's economy. Trump is only focused on enriching himself and his ultrawealthy friends and his seemingly endless vanity projects.