1978
“Led by food prices, the consumer price index is surging upward once more, and wholesale prices have been rising at. “Jimmy Carter has declared inflation Enemy No. 1.” The U.S. has been fighting rising inflation since the start of COVID-19. Four years later, March 2024 data from the Bureau of Labor Statistics shows a 3.5 percent inflation rate—significantly lower than its 9.1 percent height in June 2022, but still well above the May 2020 levels of 0.1 percent—a concern for the president in an election year.