Inflation in the United States is still the highest it's been in over four decades, but it dropped in July, with prices of essential goods -- including gas -- going down compared to the month before.
Record-high inflation has significantly impacted President Joe Biden's approval rating, so Democrats are looking to tout their legislative accomplishments ahead of the November midterm elections.
In a new ad campaign, the Democratic National Committee (DNC) touted Biden and congressional Democrats' "continued focus and historic work."
Inflation Ad Campaign
As reported by Fox News, the most recent DNC ad -- part of a seven-figure campaign -- touts the Inflation Reduction Act bill and takes aim at "extremist" Republicans.
"Joe Biden and Democrats took on Big Pharma and Big Oil -- the American people won, and powerful special interests lost. Their plan lowers the costs of prescription drugs and health care for American families," the ad says.
Extreme MAGA Republicans want to jeopardize Social Security and Medicare. Take us backward on abortion, with no exceptions for rape or incest. And they all said no to lower costs for American families.
DNC chair Jaime Harrison said in a statement that Biden and other Democrats are doing all they can to combat inflation.
"President Biden and Democrats have delivered win after win for the American people. While Democrats are lowering costs for working families and demonstrating that government can work for them, Republicans continue to try to stand in the way and are pursuing an extreme MAGA agenda that costs working families," Harrison said.
"We're proud to take our message directly to the American people and remind them that thanks to President Biden and Democrats, powerful special interests lost, and Americans won," he added.
Republicans Hit Back
Responding to the DNC's ad campaign, Republican Congressional Committee (RNC) spokesman Mike Berg accused Biden of ruining the American economy.
"Joe Biden's biggest' accomplishments' are destroying our economy, raising middle-class taxes, and causing a massive inflation crisis. Good luck to any Democrat running on that record," Berg said in a statement.
As Fox News noted, Biden's approval rating hit an all-time low in June, and Republicans are poised to win both chambers of Congress in the upcoming midterms.
Inflation Will Stay 'Uncomfortably High,' Fed Officials Say
Despite Biden and Democrats' efforts, inflation will most likely remain high in the coming months, according to Federal Reserve officials.
Per The New York Times, during a meeting in July, Fed officials "judged that inflation would respond to monetary policy tightening and the associated moderation in economic activity with a delay and would likely stay uncomfortably high for some time."
The Fed is expected to keep increasing interest rates.