Trump hasn’t brought most prices down. That’s hurting him politically

WASHINGTON— President Trump made dozens of promises during his campaign to retake the White House last year, from boosting economic growth to banning transgender athletes from girls’ sports.

But one of the most important promises stood out in the eyes of many voters: Trump said he would not only control inflation but also reduce food and energy prices.

“From the day I take the oath of office, I will bring prices down rapidly and we will make America affordable again,” he said in 2024. “Your prices will go down, your gas will go down, your heating and cooling bills will go down.”

He didn’t deliver. Gasoline and eggs are cheaper than a year ago, but most other prices, including groceries and electricity, are still rising. The Labor Department made the following prediction on Thursday: Inflation remains at 2.7 percentOnly slightly better than the 3% share Trump inherited from Joe Biden; electricity increased by 6.9%.

This has created a major political problem for the president: Many of the voters who supported him last year are losing faith.

“I voted for Trump in 2024 because he promised America first… and he promised a better economy,” Ebyad, a nurse in Texas, said on the Focus Group podcast hosted by Bulwark publisher Sarah Longwell. “All these promises appear to have gone unfulfilled.”

Since Inauguration Day, the president’s job approval has fallen from 52 percent to 43 percent. voting average Calculated by statistician Nate Silver. Approval of Trump’s performance on the economy, once one of his strongest points, has fallen to 39%.

This is dangerous territory for a president hoping to help his party maintain its slim majority in next year’s House elections.

The reasons for Trump’s collapse are clear, according to Republican pollsters and strategists: He overpromised last year and is currently underperforming.

“The most important reason he won in 2024 was his promises to reduce inflation and stimulate the economy,” Republican pollster Whit Ayres said. “That’s why he won so many voters who traditionally support Democrats, including Hispanics. But he didn’t get what he wanted. Inflation slowed, but it didn’t go backwards.”

Trump, who last week called complaints about affordability “a hoax from the Democrats,” launched a belated campaign to convince voters he was working to fix the problem.

But at his first stop, a rally in Pennsylvania, he continued to argue that the economy was already in excellent shape.

“Our prices are falling incredibly low,” he insisted.

“You’re doing better than you’ve ever done,” he said, implicitly dismissing voters’ concerns.

He urged families to deal with higher tariffs by dealing with lower tariffs: “You know, you can give up some products,” he said. “You don’t need 37 dolls for your daughter. Two or three are nice, but you don’t need 37 dolls either.”

In an earlier interview with Politico, Trump was asked what grade he would give the economy. “A-plus-plus-plus-plus-plushe said.

On Wednesday, the president touched on the issue again in a nationally televised speech, but his message was essentially the same.

“A year ago our country was dead. We were absolutely dead,” he said. “We are now the hottest country in the world… Inflation has been stopped, wages have increased, prices have fallen.”

David Winston, a Republican pollster who advises GOP members of Congress, said the president still has a lot of work to do to win back voters who supported him in 2024 but are now disappointed.

“When families pay the same price for burgers as they do for steak, there’s a problem, and there’s no sugarcoating it,” he said. “The president’s statements that ‘we have no inflation’ and ‘our groceries are down’ disregard the reality of voters.”

Another problem for Trump, according to pollsters, is that many voters believe tariffs raise prices, making the president part of the problem rather than the solution. A YouGov poll in November found that 77% of voters believed tariffs were contributing to inflationary pressures.

Trump’s popularity has not waned; it still commands the loyalty of its fiercely loyal base. “He’s at his lowest point so far in his second term, but he’s within range of getting job approval in his first term,” Ayres said.

Still, he lost a significant portion of his support among independent voters, young people and Latinos, three groups of “undecided voters” that would put him over the top in 2024.

Inflation is not the only issue hurting his standing.

He promised to lead the economy into a “golden age”, but growth has been uneven. Unemployment rose to 4.6% in November, the highest level in more than four years.

He has promised big tax cuts to the middle class, but most voters say they don’t believe his tax cut bill does them any good. “It’s hard to convince people they’re getting a tax cut when no one’s tax rates have actually been cut,” Ayres said.

He kept his promise to launch the largest deportation campaign in US history; but many voters complain that he has broken his promise to focus on violent criminals. On Silver’s average, approval rating for immigration policies has fallen from 52% in January to 45% now.

A. Pew Research Center survey in October 53 percent of adults, including 71 percent of Latinos, think the administration is ordering too many deportations. However, the majority of voters find Trump’s border security measures positive.

Republican pollsters and strategists say they believe Trump can reverse the downward momentum before November’s congressional elections, but it may not be easy.

“You look at what voters care about most and offer policies to solve those issues,” said GOP strategist Alex Conant. “It starts with prices. So you’re talking about allowing reforms, energy prices, artificial intelligence.” [artificial intelligence] …and legislation on healthcare, housing and tax cuts. “You could call it the Law of Economy.”

“A laser focus on the economy and the cost of living is job one,” said Winston, the GOP pollster. “His policies on regulation, energy and taxes should have a positive impact, but the White House needs to emphasize them more consistently.”

“People voted for change in 2024,” he warned. “If they don’t understand this, if inflation doesn’t start to fall, they may vote for change again in 2026.”