US President Donald Trump’s approval rating has fallen to 33% — its lowest level since the Financial Times began conducting polls in May 2026. Two months ahead of the mid-term elections, 57% of registered voters said their financial situation had worsened; economic dissatisfaction is linked to the cost of living, inflation and fuel prices.
Briefly about the main points
- Trump’s approval rating has hit a low in the Financial Times polls.
- The proportion of voters who are dissatisfied with their financial situation has risen by four percentage points over the past month.
- In July, petrol prices rose by 24.6% year-on-year.
- At the end of August, the average price of petrol was $4.207 per gallon.
- The US Congressional elections will take place on 3 November.
Voters’ financial sentiment has deteriorated
57% registered voters reported a decline in their personal well-being, compared with 53% who gave the same response a month earlier. For Trump, the economy is becoming one of the most sensitive issues of the campaign: voters are concerned about the cost of living, inflation and fuel prices.
Trade disputes and the protracted war with Iran are also putting pressure on the energy markets. Elections to the US Congress Scheduled for 3 November: the entire House of Representatives and around a third of the Senate will be up for re-election.
Energy costs are putting a strain on household budgets
According to the US Bureau of Labour Statistics, the Consumer Price Index rose by 3.4% year-on-year in July. Energy prices rose by 14.7%, whilst petrol prices rose by 24.6%. The average retail price of all grades of petrol for the week ending 31 August was $4.207 per gallon.
At the same time, the August labour market figures were more stable: non-agricultural employment rose by 162,000, the unemployment rate remained at 4.1%, and the average hourly wage was 3.1% higher than a year earlier. These figures do not directly reflect purchasing power or households’ subjective assessment of their own finances. The Bureau of Labour Statistics will publish the CPI for August on 11 September.
