Poll Shows Declining Republican Support for Trump’s Inflation Handling

In Washington, recent polling indicates that while many Republicans still back President Trump’s approach to inflation, their support is slipping as public opinion about the economy worsens significantly.

A notable 63% of Republicans currently approve of Trump’s measures against inflation, which is a drop from 74% in March. In contrast, only 27% of the general public expresses approval now, a decline from 33%. This was revealed in a CBS News/YouGov poll.

Inflation has risen further, hitting 3.8% over the past year, far exceeding the Federal Reserve’s target of 2%, largely due to instability in energy markets. The U.S. economy added 115,000 jobs in April, which surprised many observers.

Despite these economic challenges, Trump maintains a solid connection with the Republican Party, especially following successful interventions in primary elections. Earlier this month, he managed to oust five Republican state legislators in Indiana who opposed his redistricting efforts. His backing of Rep. Julia Letlow in Louisiana’s Senate primary also helped remove incumbent Sen. Bill Cassidy.

Currently, about 85% of Republicans support Trump’s performance, with a stark contrast to just 37% approval among the general populace.

Public sentiment about the economy is grim, worsened by the consequences of the Iran war and the crisis in the Strait of Hormuz, which have driven gas prices up substantially. A survey revealed that 65% of respondents see the economy as “uncertain,” 63% as “difficult,” and 40% as “unfair.” Only 12% feel it’s “recovering” or “stable.”

Many voters are also anxious about the rise of artificial intelligence, with nearly two-thirds fearing it may lead to job losses.

Despite the bleak economic outlook, there’s only slightly more trust in Democrats. Only 35% believe they have a better economic strategy, compared to 31% for Trump and the Republicans.

Trump has maintained that the economic fallout from the Iran war isn’t as severe as anticipated, arguing that military action was necessary to hinder Iran’s pursuit of a nuclear weapon.

During an interview with Fox News, he described the current situation as “a little bit of pain,” emphasizing his intention to fulfill his responsibilities properly. He pointed out the prolonged involvement in Vietnam, contrasting it with his much shorter tenure managing this crisis.

Administration officials are optimistic that oil prices will drastically decrease once the situation in the Strait of Hormuz stabilizes, given its significance for global oil supply.

This pessimism towards the economy is among the lowest recorded since 2023, according to CBS News.

The CBS News/YouGov poll was conducted between May 13 and 15, surveying 2,064 adults, with a margin of error of plus or minus 2.7 percentage points.