Seventy-seven percent of Americans — including 55 percent of Republicans and 81 percent of independents — say that President Trump’s policies have increased their cost of living, according to a new CNN poll.

My latest Financial Times column explores this:

When people walk into grocery stores or look at restaurant menus, they experience jarring sticker shock. The overall level of prices is 25 per cent higher than it was just five years ago. Part of that increase was caused by pandemic-era supply disruptions. But my calculations suggest that President Joe Biden’s massive $1.9tn stimulus in 2021 contributed around 3 percentage points........

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