Survey: Americans believe Trump has increased prices more than reduced them by a 2-to-1 ratio

One of the key factors behind President Trumps re-election last year was the widespread belief that the Biden administration mishandled inflation, and that Trump had the skills to lower prices. However, a recent Yahoo/YouGov survey indicates that a majority of Americans now think the president has contributed more to rising prices (49%) than to reducing them (24%) since taking office in January.

Currently, 72% of Americans rate the economy as either fair or poor, and 79% report spending more on the same goods and services than they did a few years ago. This perception that Trumps policies are worsening economic conditions likely explains why 56% of Americans disapprove of his overall job performance, and 63% disapprove of his handling of the cost of living.

The survey, which included 1,684 U.S. adults, was conducted from Nov. 21 to Nov. 24, shortly after Democrats achieved notable victories in several high-profile 2025 elections, including New York, New Jersey, and Virginia. Initially, Trump dismissed these losses, asserting that the U.S. economy was the greatest weve ever had and labeling affordability concerns as a con job by the Democrats. He later introduced several proposals aimed at alleviating household financial strain, such as $2,000 rebate checks, 50-year mortgages, and direct health care payments, alongside plans to reduce tariffs on imported items like beef, tomatoes, bananas, and coffee.

Despite these initiatives, the Yahoo/YouGov findings suggest significant public skepticism remains. Inflation has dropped from its COVID-era peak of 9% under Biden to around 3% at Trumps inauguration. Yet, Trumps claim that we dont have any inflation conflicts with ongoing price increases in essential goods, including produce, coffee, clothing, housing, and electricity. Meanwhile, new tariffs have pushed the average U.S. import rate to 18%the highest since 1934adding an estimated $1,600 to $2,600 annually to household expenses.

Consequently, 60% of Americans feel inflation is worsening, the highest level observed in nine surveys conducted over Bidens final two years. Only 17% believe inflation is improving. Among those who see worsening inflation, 70% attribute it to presidential policies rather than uncontrollable events, a sharp increase from 33% during Bidens presidency.

While actual inflation may not exceed previous levels, public perception has shifted. Three years ago, 52% criticized Biden for not doing enough to address inflation; today, 61% say the same about Trump. Similarly, the percentage attributing primary blame to the president has risen slightly from 35% to 38%. Trumps tariffs remain widely unpopular: 52% believe they harm the economy versus 26% who see a positive impact. Two-thirds of Americans report that tariffs have increased their personal expenses, while fewer support the presidents claims that tariffs generate revenue (39%), enforce fair treatment from other nations (40%), or encourage domestic production (47%).

Public approval is high, however, for recent tariff removals, with 77% supporting cuts on beef and other goods. Only 7% disapprove, and a large majority favors either full or partial elimination of tariffs. Among Trumps affordability measures, only the $2,000 rebate checks achieve majority support (58%), including backing from 68% of Republicans and roughly half of Democrats and independents. Proposals for 50-year mortgages and direct health care payments receive little enthusiasm, with most Americans opposing them after reviewing potential drawbacks.

Even support for rebate checks is limited when other uses for tariff revenue are considered. While 41% prefer rebates, 27% favor reducing the national debt, and 18% prefer funding government programs. When informed of the estimated $1,600$2,600 yearly cost to households, Americans are divided on the best solution: 43% support rebates, while 42% prefer tariff reductions to lower prices.

The survey was conducted online by YouGov from Nov. 21 to Nov. 24, 2025, with a nationally representative sample of 1,684 adults. The data were weighted by gender, age, race, education, 2024 election turnout, presidential vote, party affiliation, and current voter registration. Demographic targets came from the 2019 American Community Survey, and party identification was weighted to 31% Democratic and 32% Republican, reflecting election estimates. Respondents were selected from YouGovs opt-in panel, with a margin of error of approximately 3%.

Analysis: Public Sentiment Shifts on Trump and Inflation

The latest Yahoo/YouGov survey paints a clear picture: a majority of Americans now associate rising prices with President Trump’s policies rather than crediting him for reducing inflation. Nearly half (49%) believe he has contributed to higher costs, while only 24% see him as reducing prices. This marks a notable reversal from the election narrative that positioned Trump as the more capable economic manager compared to his predecessor.

Economic perception is increasingly negative. Seventy-two percent rate the economy as fair or poor, and 79% report spending more than in previous years. Public disapproval of Trump’s overall job performance stands at 56%, with 63% disapproving specifically of his handling of the cost of living. These figures align closely with growing concerns over tariffs and essential goods prices, suggesting that recent policy measures have yet to convince the public of their effectiveness.

Although inflation has technically fallen from its COVID-era peak to around 3% at the start of Trump’s term, ongoing increases in everyday costs—food, clothing, housing, energy—combined with new tariffs averaging 18% on imports, have heightened public unease. The survey indicates 60% of Americans feel inflation is worsening, with 70% attributing it to presidential policies, a significant jump from 33% under Biden. Public skepticism toward specific initiatives is also notable: only the $2,000 rebate checks receive majority support, while proposals like 50-year mortgages and direct health care payments face widespread opposition.

The data highlights a persistent gap between Trump’s messaging on economic success and public experience. Support for tariff removals is strong, but overall confidence in the president’s approach to affordability measures remains limited. The results suggest that addressing public perception may be as critical as policy adjustments in shaping future political outcomes.

Sources:

• Poll: By a 2-to-1 margin, Americans say Trump has done more to raise prices than lower them