Washington, D.C. — A new poll finds that a majority of Americans believe the cost of living is the highest they have ever experienced, with many linking worsening economic conditions to the ongoing conflict involving Iran and its effects on global energy markets.
According to a Politico survey released Friday, 53% of respondents said current living costs are the worst they can remember. The poll also found that a plurality of Americans believe their personal financial situation has deteriorated since President Donald Trump returned to office.
More than 60% of respondents said Trump has not done enough to shield consumers from the economic consequences of the conflict with Iran. That view was shared by majorities of both Trump supporters and voters who backed former Vice President Kamala Harris in the 2024 election.
The economic strain has been fueled by disruptions to global shipping and energy markets following Iran’s blockade of the Strait of Hormuz after U.S. and Israeli military strikes on Iran in February. The blockade contributed to oil shortages and pushed the national average gasoline price above $4.50 per gallon last week, more than a dollar higher than a year ago.
The White House has argued the disruptions are temporary. Spokesperson Kush Desai said the administration anticipated short-term economic impacts but expects conditions to improve once shipping through the Strait of Hormuz fully resumes.
The Politico poll was conducted May 9-11 among 2,065 adults nationwide and reported a margin of error of plus or minus two percentage points. Affordability and inflation continue to rank among the most important issues for voters heading into the 2026 midterm elections.
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