President Donald Trump’s approval rating has dropped to its lowest level since returning to office, as economic pressures and opposition to the war with Iran weigh on public opinion, according to a new poll.

The latest survey from Reuters/Ipsos, released March 24, found that 36% of Americans approve of Trump’s job performance, down from 40% the previous week.

Rising costs for essentials such as food and gasoline appear to be a major factor behind the decline. The poll found only 25% of respondents approve of Trump’s handling of the cost of living, an issue that was central to his 2024 campaign.

Public sentiment toward the conflict with Iran has also turned increasingly negative. Multiple surveys indicate that roughly half of Americans disapprove of Trump’s handling of the war and broader U.S. military actions in the region.

Trump’s approval rating stood at 47% when he first returned to office but has largely hovered around 40% in recent months, according to the poll, suggesting a steady erosion of support amid mounting economic and geopolitical challenges.