Past Inflation is Politicians’ Biggest Present Problem

Inflation is finally getting back under control but voters are still angry about the steep hikes in many prices over the past four years

by Jack M. Mintz
Financial Post

Governments and central banks are clearly winning the war against inflation, which is falling in most countries. Yet the high cost of living dominates polls in many places and politicians are taking heat for it from their electorates. Ask India’s Prime Minister Narendra Modi, who, despite winning re-election, lost his parliamentary majority as voters turned against his government over bread-and-butter issues. Or check with U.S. President Joe Biden and the U.K.’s hapless Prime Minister Rishi Sunak, both seeking re-election and both mired in poor polling as voters are angry over inflation and their handling of the economy.

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