The price of everyday goods and rising health care costs may factor into this year's upcoming midterm elections.
As we move into a Congressional election year, also known as the midterms, many consumers are fixated on what they say is a promise broken by President Trump and Congress: a pledge to lower prices. On New Year's Day, it's fair to say: the times – and the prices – they are a-changin'.
If BART and bridge fares are the tip of the iceberg, new year's price hikes for a lot of necessary or popular products and services paint a more complete picture. The president often denies this and some do agree. "I inherited a total mess. Prices were at an all-time high when I came in. Prices are coming down substantially," said the president. "I think everything is reasonably priced. I've been a happy consumer thus far," said shopper William Bradford.But that was not the majority opinion when KTVU's Tom Vacar asked if they think prices are too high. "You know, yeah. Yeah, the basic products, yes," said shopper Asael Serrano. "Everything I have to buy is just way too high to do anything with. I'm broke before the first two weeks are out," said Paul Smith who is on Social Security.Beginning with health care, premiums for employer-sponsored health insurance are projected to rise as much as 9%. Millions relying on the Affordable Care Act, also known as ‘Obamacare’, may see a 114% increase with federal subsidies gone. At least 350 branded prescription medications are slated for price increases, with the median hike around 4%. Premiums for Medicare Part B will spike up nearly 12%.When it comes to prices, food will be rude. The U.S. cattle count is at its lowest in decades. So, fewer cattle supplies, plus higher feed and fuel costs as well as higher utility rates will raise prices for a record $6.23 a pound in September. Conditions for price drops are not expected.Poultry, fish, dairy and eggs: producers face higher feed, labor and shipping costs, sending prices higher. Coffee could go up, even with tariff relief, since severe weather in major producing nations and regions will likely continue to lead to shortages.Adverse weather also figures into less supply of sugar and chocolate, key ingredients for candy, sweets and many foods. That hikes the price for customers who want it in 2026.Price hikes for streaming services will continue with Paramount+ going up. Finally, the US Postal Service will raise its prices so it can modernize its aging network system.Driven by factors like tariffs, supply chain issues, factors such as high demand and slow or weak supply demand always drive prices higher. "I have no higher priority than making America affordable again. That's what we're going to do," said President Trump. "Oh, I don't see it as getting better. What I think is gonna happen is it's gonna be a slow squeeze financially, slow squeeze," said shopper Amada Ebey.Under extreme political pressure, the president recently removed tariffs on coffee and apparently on Italian-made pasta.
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