Data journalist and pollster G. Elliott Morris has stated that President Donald Trump's approval rating on inflation is so historically low that he was forced to redesign his graph to accommodate the dismal numbers. Recent polling indicates the president faces unprecedented disapproval regarding his handling of the cost of living crisis.
Historic Disapproval on Inflation
A new Reuters/Ipsos poll reveals that merely 21 percent of Americans approve of Trump's management of inflation. Similarly, a Fox News poll shows only a 28 percent approval rating, with a staggering 72 percent disapproving. Furthermore, the Associated Press-NORC Center for Public Affairs Research reported last month that Trump's approval on the economy dropped from 38 percent in March to 30 percent in April.
Morris, who runs the polling aggregator 50plusOne, demonstrated that the average approval rating for Trump on inflation and the cost of living is significantly below the scale initially set on his graph. As of late April, the approval rating stands at minus 40.3 percent. "Trump literally broke the scale of this graph on my data portal," Morris tweeted.
Economic Policies Under Scrutiny
Trump largely won the 2024 presidential election due to voter frustration over rising living costs. However, since returning to office, his administration has implemented aggressive tariff policies on foreign nations, contributing to price increases. Additionally, the ongoing conflict in Iran has driven gas prices sharply upward both domestically and globally. Iran has responded to the Trump administration's military actions by closing the Strait of Hormuz, through which 20 percent of the world's oil supply transits.
There are few indications that inflation will ease soon. The Bureau of Labor Statistics reported that the Consumer Price Index rose 0.9 percent in March as the Iran war commenced, with prices increasing 3.3 percent over the past year. On Thursday, the Bureau of Economic Analysis released the Personal Consumption Expenditures (PCE) index, a key inflation gauge for the Federal Reserve, which jumped to its highest level in three years—0.7 percent in March, 3.2 percent higher than a year ago. Bloomberg's April survey of economists predicts the PCE index will increase 3.6 percent in the second quarter.
Gas prices have also hit $4.23 per gallon, the highest since Russia's invasion of Ukraine. These trends could spell trouble for Republicans ahead of the 2026 midterm elections. Morris's website shows Democrats holding a five-point lead on the generic ballot, which measures voter preference between a generic Democrat and a generic Republican for Congress.
Earlier this week, Federal Reserve Chairman Jerome Powell, in his final meeting, announced the central bank would keep interest rates steady due to inflation concerns, despite Trump's pressure to reduce rates.
