President Donald Trump's approval rating ticked up to 32%, but that sliver of good news probably won't calm Republican nerves. Democrats still hold a comfortable lead in congressional preference, and voters are sending a loud, unambiguous message about the cost of living.

Democrats Keep Their Edge in Midterm Poll

A Reuters/Ipsos poll released Monday showed Trump's approval rating rising 1 percentage point from the previous week's record low. That's the good news for the White House. The rest is less cheerful.

Among registered voters asked which party they'd support for Congress if the election were held today, Democrats led Republicans 47% to 36%. That 11-point gap narrowed to 9 points when undecided voters were pressed on which party they were leaning toward, with Democrats ahead 50% to 41%.

Cost of Living Weighs on Voters

Perhaps the most telling number in the survey: 73% of voters believed their cost of living was heading in the wrong direction. That's not a fringe sentiment. That's a supermajority feeling the pinch and blaming the trajectory.

On economic management, 37% said Democrats had a better approach, compared with 33% who favored Republicans. It's a modest edge, but in a midterm environment where pocketbook issues usually dominate, it matters.

Enthusiasm also favors Democrats. Forty-six percent of Democratic voters said they were very enthusiastic about voting in the Nov. 3 midterms, compared with 30% of Republicans. Among voters considered most likely to cast ballots, Democrats led Republicans 53% to 44%.

The online poll surveyed 1,679 U.S. adults, including 1,280 registered voters. Its margin of error was 2 percentage points for all adults and 3 percentage points for registered voters.

Trump's Approval Rating Hits Low

Context helps here. A September Emerson College poll showed Trump with 39% approval and 58% disapproval, with 56% of voters saying he had performed worse than expected in his second term. The Reuters/Ipsos number is lower still, even after the one-point bump.

Trump Faces Midterm Pressure

Former Rep. Marjorie Taylor Greene warned that Republicans could face voter backlash on Nov. 3, accusing Trump of abandoning his "America First" promises over the Iran war, the Jeffrey Epstein controversy and rising living costs. That's a notable warning from within the party's own orbit.

On the policy front, Trump last week eased 50% tariffs on select Canadian imports, a move Republican Sen. Susan Collins said would benefit Maine's agricultural and seaweed industries. However, other Canadian products were added to the tariff list, so the relief was partial at best.

Earlier this month, Trump's proposed $5,000 dividend raised questions about eligibility, with his statements referring to both "every U.S. Citizen" and "all Adult Citizens." The plan was conditional on Republicans retaining control of both chambers of Congress and could cost approximately $1.23 trillion if paid to all 245.3 million adult U.S. citizens.

So the pitch is a big check, but only if voters keep the GOP in power, and the price tag is enormous. With 73% of voters sour on the cost-of-living trajectory, the sales job ahead of Nov. 3 just got a lot harder.