In a grim revelation for former President Donald Trump, his approval ratings on inflation have slumped to depths that align him with Joe Biden and Jimmy Carter—two leaders whose presidencies were marred by economic turmoil. CNN’s chief data analyst, Harry Enten, unveiled this stark reality, underscoring a significant decline in Trump’s economic standing as he gears up for the impending midterm elections.
A Dismal Approval Rating
Trump’s inflation approval took a nosedive in May, registering a staggering 50 percentage points in disapproval according to an Ipsos poll. This is a dramatic fall from the minus-6 points he recorded in January 2025, marking a catastrophic shift in public sentiment on a critical economic issue.
Enten pointed out that while there was a minor improvement in June—where Trump’s net approval rating on inflation ticked up to minus-47 points—it remains historically low. “Did he improve? Yeah. Maybe a tiny, tiny bit,” Enten quipped, adding that the overarching trend for Trump’s inflation ratings is decidedly downward.
For context, Biden and Carter, who also faced severe economic challenges during their tenures, had net approval ratings of minus-43 and minus-44, respectively. Enten remarked, “You do not want to be—if you’re Donald John Trump—in the brotherhood with Joe Biden and Jimmy Carter on inflation, because inflation ruined their presidencies.”
Republicans’ Growing Concerns
White House spokesman Kush Desai attempted to shift the narrative, asserting that Trump remains optimistic about future economic conditions. “President Trump has always been clear about the fact that oil and gas prices—and thus overall inflation—will rapidly drop as soon as the Iran situation is resolved,” he stated. However, Enten warned that Trump’s current standing on inflation is a troubling sign for Republicans as they approach midterm elections.
“Even if this slightly lower number holds, you can bet that Republicans would be in for a whole heck of a lot of pain come November,” he cautioned, highlighting the precarious position the party finds itself in.
Recent Economic Trends
The latest data from the Labour Department revealed a slight easing in inflation rates for June, with consumer prices dropping 0.4 percent from May—the largest monthly decline in four years. The annual inflation rate also fell to 3.5 percent, down from 4.2 percent in May, and below the 3.8 percent that analysts had anticipated.
Despite this, the figures remain above the Federal Reserve’s target of 2 percent, and economic experts like Mike Reid of RBC Capital Markets have expressed skepticism about the sustainability of these improvements. “I wouldn’t bet on these more modest inflation readings continuing for the remainder of the year,” Reid cautioned, particularly in light of rising oil prices linked to renewed military tensions with Iran.
Misleading Claims and Historical Context
Amidst this backdrop, Trump has made claims regarding the inflation he “inherited” from Biden, asserting that he has improved the situation. He inaccurately stated that Biden left him with the worst inflation in American history, despite the annual rate under Biden peaking at 9.1 percent in June 2022—the highest since February 1981. Historical records show that the highest annual inflation rate recorded in modern America was 19.7 percent in March 1947.
Trump’s narrative appears to diverge sharply from the reality presented by economic data, raising questions about the effects of misinformation on public perception.
Why it Matters
Trump’s dismal inflation ratings serve as a stark reminder of the volatility of public opinion on economic issues and their profound implications for political fortunes. As he faces the reality of a challenging economic landscape, the former President’s affiliation with Biden and Carter on inflation could haunt him as he navigates the treacherous waters of the upcoming midterms. This situation underscores a crucial truth in American politics: economic performance often dictates electoral success, and with inflation still a pressing concern, both Trump and the Republican Party may find themselves grappling with the consequences of this economic reality.