Inflation has cooled, anger about the cost of living hasn’t

The rising prices of everyday items will likely cost both sides of the aisle.

In August, U.S. inflation ticked up, with the Consumer Price Index rising to 2.9 percent year-over-year, an increase from 2.7 percent in June and July, and the highest since January. Core inflation, which excludes volatile items such as food and energy, held steady at 3.1 percent, reflecting ongoing pressure in sectors like shelter. Despite what the data suggests about moderating inflation overall, the cost increases for everyday goods, including for groceries — which are seeing their highest inflation rate since 2022 — have many Americans feeling extraordinarily squeezed.