Mikk Salu’s analysis ⟩ Trump also showed Estonia that people hate inflation

Inflation. Image is illustrative. Photo: Mihkel Maripuu

«I just hate inflation,» said Annely Akkermann, head of the Riigikogu finance committee, in an interview with Postimees a few months ago. The topic was so important to Akkermann that she repeated «I hate inflation» several times.

After Donald Trump's victory in the US presidential election had become clear, Washington Post columnist Megan McArdle wrote: «The clearest message of this election is that people really, really, really hate inflation.» A few days later, this has already become a widespread belief. There were various reasons for Trump's victory, but almost all who explain it point to rising prices. People just hate inflation.

This is not breaking news in itself. According to polls, it was already known before the elections that Americans care most about four topics: inflation/economy, immigration, abortion and the future of democracy. Voters trusted Trump more on the first two issues and Kamala Harris on the last two issues. The election results validated the importance of inflation concerns.