Grand Canyon Times

A report showing inflation at 8.6% paired with rising gasoline prices is adding up to unwelcome news for the Biden administration.

The latest ABC News/Ipsos poll showed President Joe Biden’s approval rating from voters in Arizona on key issues—including economic recovery, inflation and gas prices—remains underwater, as a majority disapprove of the president's performance. 

In a recent news release, Ipsos pointed out that the president’s approval rating on several key issues has remained steady. His ratings on gasoline prices and inflation lag behind all other issues, with the polling organization finding that only 37% of Americans support Biden’s handling of the economic recovery. That number is down slightly from April, when his rating on that issue stood at 40%; and down 16% from July 2021, when 53% approved of his handling of the recovery. 

"While Biden’s standing on these issues remains largely unchanged from the last time these questions were asked in April, this poll also illustrates that the economy is poised to be an extremely important factor in the midterm elections this November," Ipsos said in its release.

Moreover, the ABC News/Ipsos poll found that nationwide, only 28% of Americans approve of Biden’s handling of inflation, with the same number expressing approval for his handling of gasoline prices. The president’s numbers are slightly better among Democrats, with 56% saying they approve of his handling of inflation and 51% approving of the his handling of gas prices. 

The U.S. Bureau of Labor Statistics (BLS) recently released its data for May, noting that inflation for the month stood at 8.6%, up 0.3% from April. The BLS noted that the May mark represented a 40-year high. The largest contributors were increases in the indexes for gasoline, food and shelter.

In April, the Consumer Price Index for gasoline dipped slightly, but it was up again in May by 4.1% and has jumped 48.7% over the last year, the BLS data showed. The data also noted rises in the food index (1.2%) and the food at home index (1.4%). The shelter index rose 0.6% in April, the largest increase in a single month since March 2004.

The economic numbers also could prove to be a problem for Democrats in the November midterm elections, with the ABC/Ipsos poll finding that among voters “enthusiastic” to go to the polls, 66% cite the economy as a key to their vote and 62% cite inflation. The pandemic is a driver for less than 30% of voters, highlighting how the economy is outpacing the pandemic for importance among voters.  

The economic issues are also being exacerbated by rising gasoline prices. In a June 13 news release, the American Automobile Association (AAA) noted that the national average cost for a gallon of gasoline was $5.01, the highest price since AAA started compiling pricing data 22 years ago. 

In Arizona, the current average for a gallon of gas was $5.35, AAA said.

The poll was conducted from June 3-4 by Ipsos using the probability-based KnowledgePanel, and it included a representative sample of 542 Americans 18 years of age and older.