A Washington Post-ABC News-Ipsos poll found 77% of U.S. adults disapproved of President Donald Trump's handling of the cost of living, underscoring an economic challenge before the Nov. 3 congressional elections.
The poll, released Oct. 20, put approval on that question at 21%. On Trump's handling of the economy, 70% disapproved and 28% approved. Ipsos surveyed 2,545 adults Oct. 9-13. The cost-of-living question went to half the sample and had a margin of sampling error of 2.8 percentage points, compared with two points for the full survey.
The same poll found 37% trusted Democrats more on the economy, while 28% favored Republicans. In July, those figures were 33% and 34%, respectively. On the cost of living, Democrats led Republicans 38% to 24%.
In a separate Reuters/Ipsos survey conducted Oct. 16-19, 47% of registered voters named the cost of living as the issue that would weigh most in a hypothetical congressional vote.
Consumer prices rose 0.6% in September and 3.7% from a year earlier, the Bureau of Labor Statistics (BLS) said. Gasoline accounted for more than half the monthly increase in the overall index. Its seasonally adjusted index rose 9.1%, while unadjusted gasoline prices increased 6.5%.
BLS also reported that average hourly earnings adjusted for inflation among private nonfarm employees fell 0.5% from August and 0.7% from a year earlier. The figures show a decline in purchasing power per hour for those workers on average, even as the broader economy grew.
The Bureau of Economic Analysis (BEA) put annualized real gross domestic product growth in the second quarter at 2.2% in its third estimate, up from an earlier estimate of 1.5%. In an Oct. 19 statement, the White House said its Working Families Tax Cuts were giving Kansas workers, families and seniors more money. It also promoted investment and support for Kansas farmers and ranchers.
The Federal Reserve meets Oct. 27-28. BEA is scheduled to release its advance estimate of third-quarter growth and September income and spending figures Oct. 29, ahead of the Nov. 3 vote.
