Had the party's economic theories been sound and had it succeeded in implementing its program, the inflation rate would have lessened considerably.
Evidence
Theories Succeeded Inflation been and implementing → lessened sound program considerably
Inflation didn't lessen considerably.
Conclusion
Theories weren't sound.
Evaluate
We're given a conditional premise, with an "and" in the trigger. A and B → C
Then we're given a factual premise, that the outcome didn't occur. ~C.
Finally, the author concludes that one of trigger ideas didn't happen. ~A.
The flaw here is that when you contrapose the original conditional, you would have ~C --> ~A or ~B
We can't be sure that "theories weren't sound" because it's possible that the reason C wasn't achieved was because the other half of the trigger didn't obtain, i.e. it's possible that "theories were sound" but "program wasn't implemented".
Goal
Premise 1: A and B → C Premise 2: ~C. Conclusion: ~A
It doesn't matter whether the conclusion rules out A or rules out B; as long as it only rules out one of them it's the same flaw.