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Approval ratings on the economy slump as voters feel price pressure
Consumer prices rose 3.4% year over year in July, while the national regular gas average was about $4 a gallon in late July, according to U.S. data cited by Yahoo Finance.
Yahoo Finance highlights mounting voter frustration with the U.S. economy, noting that President Donald Trump's economic approval has fallen to 32%, down from 40% at the start of his second term, per a new AP-NORC poll.
The outlet also points to a Fox News poll from July showing 33% approve of Trump's handling of the economy, while 67% disapprove, with overall approval at 39% unchanged for three consecutive months.
Yahoo Finance links the political backlash to household budget strain, saying Fox News found 75% of voters report inflation has caused financial hardship, including 34% who describe it as serious.
According to U.S. Bureau of Labor Statistics data cited by the outlet, consumer prices increased 3.4% in July from a year earlier, and it also notes that the national average for regular gas was about $4 a gallon in late July.