The US midterm elections are approaching. Reporting recently in New York City and New Jersey, our correspondents found inflation and livelihood issues have become the top concern of American voters. Soaring energy prices and persistent inflation have dragged down consumer confidence, deepened pessimism about the economy, and become a key force roiling the midterm race.
On October 24, Caleb Shaff, an entertainment professional in New York, told our reporter after casting an early ballot that 'affordability' was his first consideration when voting.
Shaff plans to hold his wedding in Southern California in the first half of next year; at the end of September he spent $1,500 on round-trip airfare, about $500 above normal levels. He said current prices and living costs are 'crazy' — costs keep rising while wages lag far behind. 'It's really scary.' He believes part of US government military spending should be spent elsewhere.
Sandra, a voter in her seventies from Queens, said compared with the last election, concern over high gasoline prices is a notable difference this time. With food prices rising, she has to choose carefully at the store, sometimes picking between two items, and may stop buying non-essentials.
'This can't go on,' she said, hoping the midterms can turn things around and the government can ease price increases.
A Pew Research Center poll released early this month shows 74% of US adults are 'very concerned' about energy prices, and 84% of registered voters say economic issues are an important factor in their midterm choices.
International oil prices have surged since the US and Israel launched military strikes against Iran at the end of February. Amid the protracted Middle East conflict and the ongoing Russia-Ukraine conflict, US prices for energy, fertilizer and other goods have climbed sharply compared with recent years.
AAA data show the US average retail diesel price broke $6.52 per gallon in September, a record high, and remains more than 70% higher year-on-year.
US Department of Agriculture forecasts show US farm fuel spending will rise 28.8% year-on-year in 2026 to about $21.6 billion; fertilizer and livestock/poultry purchase spending are projected to rise 15.3% and 11.4% to $39.6 billion and $71.9 billion respectively.
In Andover, New Jersey, Richard Norasco, who runs a farm with his family, said farm products must be trucked out and greenhouses and machinery burn fuel, so fuel accounts for about 25% of the farm's total budget. With fuel prices up sharply this year and seasonal labor costs higher, the farm raised prices on many products after the selling season began in April; some items sold poorly at the new prices and had to be discarded or donated.
High oil prices hit agriculture, logistics, aviation, trade and autos directly, and the resulting price pressure spreads to other sectors. A real estate agent near a resale condo listing in Queens said the community raised management fees for two consecutive years, by about 3% this year, after roughly a decade without an increase.
At an early-voting rally in Great Neck, Long Island, Steve, who works at a medical device company, told our reporter that inflation is out of control and economic pressure has not eased. 'High inflation hurts people's lives, and people cannot cope effectively.'
