US inflation is rising and Americans are struggling, which is bad for workers, retirees, and Trump's poll numbers.

• Inflation jumped to a three-year high, driven by gas prices linked to the Iran conflict, while GDP growth was revised down.
• More workers are pulling money out of their 401(k)s and average balances are falling as people struggle to pay bills.
• Low-income households face rising hunger, and Trump's team is cutting SNAP benefits by adding work requirements.
• Trump's approval on inflation has collapsed 20 points in three months, hitting a historic low even among his white working-class base.
• Trump appointees are pushing a $250 bill featuring his face, and the administration is threatening to defund international flights to sanctuary cities like New York, LA, and Chicago.

Outlook: If inflation keeps rising and the Iran conflict drags on, Trump's support will keep eroding ahead of the midterms.