can buy stuff that covers their basic needs on the market she added in brazil where president jair bolsonaro cut taxes on fuel and electricity in an effort to slash prices over the months preceding an election that concluded in october the nation nevertheless replaced him with a leftwing challenger despite the global nature of inflation and limited policy levers available to president joe biden to reverse it democrats are being held accountable for a cost of living crisis experienced while theyve controlled congress and the white house some experts said meanwhile in england prime minister liz truss responded to the highest inflation in four decades with an economic policy centered on tax cuts and energy price controls the share of likely voters who say economic issues are the most important concerns facing america stands at 44 a jump from 36 who said so in july according to a new york timessiena poll released last month as the midterm elections begin skyhigh prices for essentials like food and gasoline have become a major line of criticism leveled at democrats who control the white house and congress more what elon musks twitter acquisition means for the midterm elections to be sure at least one expert said its too difficult to discern the political impact of inflation alongside other potential factors driving voter sentiment worldwide examining 57 inflation shocks since 1970 they found government turnover in 58 of cases this is a global inflationary shock many countries are seeing inflationary pressure they havent seen since the 1970s and 1980s robert kahn the managing director of global macrogeoeconomics at the new yorkbased eurasia group told abc news the surge in demand followed a pandemicinduced flood of economic stimulus her tenure in office lasted just 44 days before market reaction and political disarray led to her stepping down those economyfocused voters overwhelmingly preferred republicans by more than a twotoone margin the poll said but its a part of the same global phenomenon global inflation during the pandemic era has helped drive public opposition toward incumbent parties and politicians contributing to shifts in power across a host of countries over the past year some financial experts told abc news over the summer colombia elected the first leftist president in its history as the inflation rate soared near 10 there is a tendency in the american economic debate to see whats happening in the us as unique to the us kahn said its right to say that its playing out differently in the us than it is elsewhere but the surge in demand for goods and labor far outpaced supply as covidrelated bottlenecks slowed delivery times and infection fears kept workers on the sidelines such price increases have bedeviled countries across the globe some of which have suffered much worse inflation than the us more us economy grew significantly in 3rd quarter ending 6 months of shrinking we made a tradeoff in 2020 were going to save the economy and save peoples jobs by