Anthony Chan and Chris Low discuss consumer spending, the Federal Reserve cutting rates and the small increase in inflation on ‘Making Money’.
FIRST ON FOX: With many Americans about to hold picnics or barbecues with families and friends over the upcoming July 4th holiday weekend, the House Democrats’ campaign arm is taking aim at rival Republicans over what it says is the rising cost of groceries.
The Democratic Congressional Campaign Committee (DCCC) on Tuesday launched www.HouseRepublicanPriceHike.com, a new interactive tool that it says shows Americans “just how much more they are paying for everyday goods under House Republicans’ control.”
The DCCC’s interactive tool, shared first with Fox Business Digital, looks like an online supermarket website, and includes current prices for items such as cheese, bread, butter, coffee, eggs, ice cream, rice, sugar, yogurt, and ground beef.
It also includes the prices of those items from 2022, when the Democrats held the House majority, and the percentage of the cost increase over the past three years.
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The Democratic Congressional Campaign Committee (DCCC) launches an interactive tool on grocery costs. (DCCC)
The DCCC highlighted that users of the interactive tool can add groceries to their cart “and see just how much more they are paying at the register before sharing the receipt via text or social media.”
The rival National Republican Congressional Committee relentlessly spotlighted inflation during the 2022 cycle, when the GOP regained control of the House.
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And Republicans kept their focus on the high cost of gas and groceries, among other times, during the last two years of then-Democratic President Joe Biden’s administration. President Donald Trump and Republicans continued to spotlight inflation and affordability in the 2024 elections, when the GOP won back control of the White House and the Senate and held onto their fragile majority in the House.
Inflation and grocery and gas prices continue to be a top issue on the minds of American voters. (iStock / iStock)
“House Republicans have broken their promise to lower prices, failing American families as everything gets more expensive,” DCCC communications director Courtney Rice charged.
Rice said the DCCC is launching the interactive tool “so people can see exactly how House Republicans are failing them — and just how much it’s costing them. HouseRepublicanPriceHike.com is a simple way to shine a spotlight on Republican failures.”
When the House returns to full strength, the Republicans will hold a razor-thin 220-215 majority in the chamber. And the DCCC pledged that in the 16 months to go until the 2026 midterm elections, they’ll “continue to hold House Republicans accountable for their broken promises and failure to lower costs.”
Inflation remains a top item with American voters, and Trump has repeatedly claimed in social media posts the past couple of months that there’s “virtually no inflation.”
The Trump White House is touting that gas prices are at their lowest summertime levels in four years. (Al Drago/Bloomberg via Getty Images / Getty Images)
The president has also argued that food prices have “substantially lowered” and that energy costs were “way down” since the start of his second tour of duty in the White House in January.
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And the White House touted this month that “Americans are seeing the cheapest summertime gas prices since 2021 — more than 20 cents lower than one year ago — as President Donald J. Trump delivers on his promises of lower prices, stable inflation, and higher wages.”
But while price increases have slowed in recent months, inflation is still above the Federal Reserve’s goal of 2% over the long run.
