Full Breakdown
Trump’s Inflation Approval Rating Hits Historic Low Amid War-Driven Price Surge
5/2/2026, 2:00:33 AM
Rating Plummets
President Donald Trump’s approval rating on inflation fell to a negative 40.3 points in a Strength in Numbers/Verasight poll conducted April 10-14, the lowest figure for any issue. Reuters/Ipsos polling shows 21 percent approval, while a Fox News poll reports 28 percent approval and 72 percent disapproval.
War with Iran
The decline follows a U.S. military operation against Iran on March 13 that prompted a blockade of the Strait of Hormuz, a route for 20 percent of oil shipments. Conflict and tariffs have pushed gasoline to $4.23-$4.30 per gallon, the highest level since Russia’s 2022 invasion of Ukraine. BLS recorded a 0.9 percent CPI rise in March and a 3.3 percent year-over-year increase.
Polling & Indicators
The Strength in Numbers/Verasight poll shows inflation approval at –40.3 points; Reuters/Ipsos 21 percent and Fox News 28 percent. Approval fell to 30 percent in April (AP-NORC), down from 38 percent in March. 55 percent of adults support impeachment, with one-fifth of 2024 Trump voters. Gasoline averages $4.23-$4.30 per gallon; Bloomberg projects the PCE index to rise 3.6 percent in Q2.
Official Responses
White House spokesperson Davis Ingle said Trump is “working tirelessly to create jobs, cool inflation, increase housing affordability, and more.” Fed Chair Jerome Powell signaled rates will stay steady despite inflation concerns; reports note Trump has urged a rate cut. Pollster G. Elliott Morris said it “broke the scale.”
Opposition
Voter Kathryn Bright, 60, said she feels “betrayed, like he was a wolf in sheep’s clothing” and described herself as “disgusted with myself” for backing Trump. A retired U.S. Air Force captain who voted for Trump condemned the administration’s handling of soaring costs and Iran war. The impeachment poll reflects opposition.
Conflicts
Polls differ on inflation approval—21 percent (Reuters/Ipsos) versus 28 percent (Fox News) versus the negative 40.3-point metric from Morris. CPI shows a 0.9 percent monthly rise, while the PCE index is projected to increase 3.6 percent in Q2. Sources do not clarify impact of tariffs versus the Iran conflict on price spikes.
Verbatim Quotes
- “Trump literally broke the scale of this graph on my data portal,” — G. Elliott Morris, Pollster
- “I feel betrayed, like he was a wolf in sheep’s clothing,” — Kathryn Bright, Voter
- “disgusted with myself” — Kathryn Bright, Voter
- “No other President in history has accomplished more for the American people than President Trump, who is working tirelessly to create jobs, cool inflation, increase housing affordability, and more,” — Davis Ingle, White House Spokesperson
Outlook
The steep drop in inflation approval threatens Republican prospects in the 2026 midterms, where Democrats hold a five-point generic-ballot lead. Persistent high gasoline prices and Iran war could sustain discontent, while the Fed’s stance on rates remains a focal point for economic policy debates.
