Americans are largely pessimistic about the state of the economy, a new CBS News/YouGov poll found.
In the survey, released May 17, respondents largely called financial conditions “uncertain” and the economy “struggling.”
The survey revealed respondents’ approval of President Donald Trump’s handling of inflation has hit its lowest point since taking office for the second time.
Twenty-seven percent of respondents approved of how Trump is handling inflation, dipping below his previous low of 31% in April. That approval rating dropped even among Republicans, from 74% in March to 63% in the new poll. The survey also found that more than three-quarters of respondents say their income is not keeping up with inflation.
Inflation reached the highest level since 2023 in April, with the Bureau of Labor Statistics’ consumer price index showing that prices rose 0.6% from March to April and were up 3.8% from a year ago when released earlier this month.
Respondents ‘Frustrated’ With Trump’s Economic Policies
Sixty-five percent of respondents told pollsters that they believe Trump’s policies are making the economy worse in the short term and 50% said the administration is making the economy worse in the long term.
When asked how they would describe the way they feel about the Trump administration’s handling of the economy, 38% said they were “frustrated” and 32% said they were “angry.”
Nearly 70% of respondents said they are not getting a clear understanding of the situation in the Strait of Hormuz. The U.S.-Israel war on Iran has caused oil shipping to virtually cease in the waterway, leading to a rise in oil and gas prices.
A 5.4% rise in gas prices in April drove the increase in the consumer price index, following a record 21.2% spike in March. Gas prices are up 28.4% for the year.
Fifty-nine percent of respondents said that gas prices were a financial hardship and 26% said that they are an inconvenience.
Trump has said that he doesn’t think about Americans’ financial situation “not even a little bit” when potentially negotiating an end to the war.
Contributing: Rachel Barber, USA TODAY
