A new survey has found that Americans are being squeezed by higher prices as they head into the holiday season, forcing them to cut back on gifts and delay purchases because of President Donald Trump’s faltering economy.
The Associated Press–NORC Center for Public Affairs Research poll found that a vast majority of U.S. adults have noticed increased prices for groceries, electricity, and holiday gifts in recent months. Roughly half say it is harder to afford presents, and similar numbers say they’re postponing big purchases or trimming nonessential spending more than usual.
Those bleak findings come as Trump has been downplaying concerns about the state of the economy, while simultaneously urging families to scale back on Christmas presents for their children. At a Pennsylvania event on Tuesday, he told supporters, “You can give up certain products,” citing “pencils” as an example before turning to children’s toys: “You don’t need 37 dolls for your daughter.
“Two or three is nice, but you don’t need 37 dolls,” he said. He has repeatedly dismissed affordability concerns as a “Democrat hoax” and claimed recent “fake” polls" deliberately omitted his accomplishments.
Sixty-eight percent of adults described the U.S. economy as “poor” in the latest poll, unchanged from December 2024 before Trump returned to office. About half of shoppers say they are hunting for the lowest price more than usual, and roughly four in ten are dipping into savings at a higher rate.
Democrats are more likely than Republicans to say they are cutting expenses or searching for discounts, but many Republicans are adjusting their budgets as well. Around four in ten Republicans say they are seeking lower prices more often, while a comparable share say they are reducing nonessential purchases.
Nearly nine in ten adults also say grocery prices have risen in recent months. About two-thirds report higher electricity and holiday gift costs, and roughly half say gas prices are elevated.
Consumer spending has remained steady, though expectations of improvement are low. About four in ten adults believe next year will be economically worse for the country, while three in ten expect no major change. Only about two in ten foresee better conditions, with Republicans expressing more optimism. Confidence has slipped from a year earlier, when around four in ten felt that 2025 would be an improvement over 2024.
The AP–NORC poll surveyed 1,146 adults between Dec. 4 and 8 using NORC’s AmeriSpeak Panel. The margin of sampling error is plus or minus 4 percentage points.
Another survey, conducted by Politico and Public First, revealed more bad news for Trump earlier this week, with 55 percent of respondents blaming Trump personally for the soaring prices. Almost half of Americans in that poll reported struggling to pay for groceries, utilities, health care, housing, and transportation.
The president’s advice to parents has also contrasted drastically with his own financial success. Forbes estimates his personal wealth at $7.3 billion, with his net worth surging during his second term, driven largely by media and cryptocurrency ventures.
The White House has been asked to comment on the findings of the poll.
