Economy is having an impact on the campaign trail [Video]

For weeks, we’ve seen economic numbers like inflation and unemployment trending in the right direction. The latest Consumer Price Index shows inflation reached the lowest level in three years.

But prices are still high. Grocery costs, for example, rose just 0.1% in July, but food prices today are still 21% higher than they were three years ago.

Another positive economic indicator out this week is the record number of small business applications received during President Biden’s administration — 19 million, the highest for any presidential term.

Those applications are just a first step, and a far smaller number of new small businesses, 1.3 million, actually opened their doors. But that number is also a record, and one the White House says is key to helping the middle class.

“The creation of new businesses is really the lifeblood of our economy. That’s what generates value in communities. That’s what …