Cost of living is a top issue for voters ahead of midterms

Less than eight weeks until midterm elections, it looks like the economy remains the center of voter attention — and not because people are happy.

Ipsos and Reuters just released a poll that found 74% of voters think their own cost-of-living is heading down the wrong track. What’s more, 59% of Americans don’t think their family has a good chance of improving their standard of living.

“Almost half of registered voters, they say that cost of living is going to be the most important issue for them, regardless of political affiliation,” said Johnny Sawyer, senior research manager for U.S. Public Affairs at Ipsos, the public opinion firm that helped put out the poll.

That’s partly gas prices, which hit an all-time high for August, but also groceries, electricity, and rent.

“[And] how uncertain the economic environment is, with no end in sight to the current war in Iran, and then add in what’s going on with Canada,” Sawyer said. “Ultimately, they hold the president accountable and you can see that in his approval ratings. On cost of living, he’s at about 70% disapprove.”

Consumer sentiment fell sharply in August, according to a survey from the University of Michigan. Joanne Hsu, director of the Survey of Consumers, said people of all political persuasions got more bummed out, but “the decline was particularly strong among Republicans,” she said.

Hsu said most Republicans still support the president’s policies on trade and Iran.

“But they were expecting those to yield faster results,” she said. “Those who are Republican tell us that as soon as the Iran conflict is over, gas prices are going to fall. But seven months on, they’re quite frustrated.”

As for voter priorities, Ipsos found Americans most want Congress to address the high costs of healthcare, housing, and groceries. Ranking lower on the list: gas, electricity, and childcare.