The fact that President Joe Biden's approval rating is coming down was apparent in the election results of New Jersey, Virginia and other places earlier this month. But not many people expected the ratings to be so low at this stage of his presidency.

The $1.2 trillion bipartisan infrastructure package and the hope of nearly $2 trillion on social programs and climate initiatives have won him some brownie points. According to a Washington Post-ABC News poll, despite the backing on these measures, Biden's approval rating has ticked down to a new low, driven mainly by more negative views among Democrats and independents. (https://www.washingtonpost.com/politics/2021/11/14/post-abc-poll-biden/)

According to the government's own data, the cost of living in the U.S. rose 6.2% in the last 12 months. This is the highest in 30 years. Republicans are snapping at the heels of the Biden administration and with the midterms looming large in 2022, all eyes are on Biden on how he will deal with the problem.

Even Biden is worried about the rise in the cost of living. Talking soon after he signed the infrastructure bill, he said, "Everything from a gallon of gas to a loaf of bread costs more, and it's worrisome… Many people remain unsettled about the economy and we all know why. They see higher prices, they go to the store or go online, they can't find what they always want and when they want it." (https://edition.cnn.com/2021/11/11/politics/president-joe-biden-inflation-politics/index.html)

Several polls are showing that inflation is now the top worry, pushing Covid-19 to the second position. Inflation was cited as the main reason for a recent Gallup poll that found Biden's overall approval at 42%, the lowest number so far in his presidency.

Read more:

Inflation and Biden:
https://www.usnews.com/news/the-report/articles/2021-11-12/is-joe-biden-getting-the-message-on-inflation

Can he claw back his ratings?
https://www.theguardian.com/us-news/2021/nov/14/biden-approval-ratings-plunge-inflation-crisis