Accountancy Slice

North America

Rising food prices, fuel costs, and persistent inflation emerged as decisive factors in the U.S. midterm elections, with Democrats winning control of both the House and Senate amid widespread dissatisfaction with President Donald Trump's economic policies. At 09:00 EST, the Democrats had 54 Senate seats, compared to 44 for the Republicans, and 228 against 139 in the House. A national survey of more than 79,000 registered voters for the Asssociated Press and all the major TV and cable news networks found that approximately 90% considered the cost of living a crucial or major factor in their congressional vote, while roughly 60% were very concerned about food prices and a similar proportion about gasoline and diesel costs. Nearly two-thirds blamed Mr. Trump's policies for worsening inflation, while 75% described the economy as poor or not particularly good. Almost two-thirds believed Mr. Trump's tariffs had damaged economic conditions. In interviews as the results came in, the president said he believed the war with Iran had public support, but acknowledged that voters were unwilling to tolerate the short-term impact of higher gasoline prices.