President Trump's approval rating has dropped to its lowest point yet, even among his most loyal supporters. A new Fox News national survey shows growing voter frustration over the economy, inflation, and affordability, issues that are now chipping away at the base that helped him win the 2024 election. The poll was conducted from May 15 - 18 by Beacon Research, with a sample of 1,002 registered voters and a margin of error of 3 percentage points.A poll shows President Trump facing growing voter frustration over inflation, rising costs and the Iran war. (REUTERS)Voters grow more frustrated over economy and rising pricesVoters are feeling the pinch in their everyday lives and it is showing up in the polls. According to the Fox News survey, 58 percent of voters say the cost of living is their top economic concern, a sharp jump from 50 percent back in February. That number overshadows other worries like government spending at 16 percent, jobs at 8 percent, and tariffs at 8 percent.More than three-quarters of voters which is 77 percent say the economy is in bad shape, worse than last month's 73 percent and a year ago's 71 percent. Only 23 percent rate it positively, the lowest figure in over a year. On a personal level, 51 percent of voters say their family's finances are worse today than they were two years ago, compared to 44 percent who said the same before the 2022 midterm elections.Also Read: Nancy Guthrie update: John Ramsey shares chilling advice as Savannah, family awaits answers; ‘don’t assume…’Trump's disapproval rating on his handling of the economy has climbed to 71 percent in May, up from 66 percent last month and 56 percent a year ago, per Fox News. His overall approval on the economy now stands at just 29 percent, down from 34 percent in April. On inflation specifically, only 24 percent of voters approve of how he has handled it, a steep fall from 35 percent in January. As per The Hill, the Labor Department noted that inflation rose to 3.8 percent over the past 12 months and 0.6 percent in April alone.Gas prices are also adding to the pressure. According to Fox News, 86 percent of voters call rising gas prices a problem, with 51 percent labeling them a “major” problem. When it comes to who is to blame, about 8 in 10 voters pointed to Trump's policies, domestic oil companies and government regulations, though 91 percent said the war with Iran is the primary driver of the price surge.Also Read: Raul Castro indicted: Who were the four men killed in the 1996 Cuba plane shootdown? All on the murder chargeSupport for Iran war drops even as many believe US is winningWhile most Americans believe the US is winning the war with Iran, opposition to military involvement is growing. According to Fox News, two-thirds of voters think the US is coming out ahead, including 89 percent of Republicans and two-thirds of independents. However, 60 percent of voters now oppose US military action in Iran, up from 55 percent in April.Half of voters think the war will last a year or longer and 6 in 10 favor setting a limited timeframe for US involvement. Interestingly, younger voters under 30 are the most likely to believe the US is winning at 79 percent, yet they are also among the most opposed to the war at 67 percent, per Fox News. Voter concern about Iran obtaining a nuclear weapon has also dropped to a record low of 56 percent, down from 66 percent in March and a record high of 78 percent last summer.As per The Hill, President Trump has said he wants to end the conflict “very quickly” as negotiations for a peace deal continue.