A new May survey from Public First for Politico finds that 18 percent of President Donald Trump’s 2024 voters say their finances have worsened since he returned to office. Many respondents blame the ongoing conflict in Iran for driving up costs across the economy.
Rising Cost-of-Living Concerns
The survey, which polled 2,065 U.S. adults online from May 9 to May 11, shows that anxiety over the cost of living continues to rise. In November, nearly half of Americans said the cost of living was the worst they could remember. By May, that figure increased to 53 percent.
Responsibility for the economy remains largely pinned on Trump, with 46 percent of Americans holding him mostly or fully accountable — a number that has stayed steady since November.
Iran War Driving Prices Higher
The conflict in Iran is adding to economic pressures. More than 60 percent of respondents said the war has caused higher prices for goods and services. Gas, food, and airline tickets are among the areas most affected. Both Trump voters and those who supported former Vice President Kamala Harris in 2024 agreed that the conflict has contributed to rising costs.
Trump Voters Divided on Economic Response
Trump’s supporters are split on whether he has done enough to protect them from the financial impact of the war. Forty-three percent say he has taken sufficient action, while another 43 percent say he has not. This tie highlights tensions within the GOP, with prominent figures like Tucker Carlson and former Rep. Marjorie Taylor Greene openly opposing the conflict.
Continued Support Despite Costs
A plurality of Trump voters — 42 percent — still support continued U.S. involvement in Iran even if it means higher costs. In contrast, just 11 percent of Harris voters and 22 percent of all respondents back continued involvement despite price increases.
Political Implications
GOP strategists are concerned that prolonged conflict could harm Republican prospects in key Senate and House races this November. High gas prices and inflation are closely linked to voter perceptions of affordability, and attempts to shift blame onto former President Biden have had little effect. Only 28 percent of Americans say Biden is mostly or fully responsible for current economic conditions.
Inflation and Economic Growth
Inflation has reached its highest point since Trump returned to office, while first-quarter economic growth came in below expectations. Nearly half of Americans say inflation is their main concern, while roughly a quarter point to overseas conflicts as the driver.
Strong majorities, including most Trump voters, report rising prices for gas, food, and medicine since the start of the Trump administration.
White House Response
White House spokesperson Kush Desai said the president has been clear that short-term disruptions are expected. As traffic in the Strait of Hormuz normalizes, Americans should see lower gas prices, stronger real wages, and cooling inflation.
