Bad news for Anthony Albanese: Support falls for the Prime Minister as one major issue turns Aussies away

Prime Minister Anthony Albanese's popularity has slumped with voters becoming increasingly unsure of his ability to manage the economy. 

Labor's primary vote dropped to 33 per cent - just above the 32.58 it received in the 2022 election - according to the latest RedBridge poll.

The poll found more voters believed Australia was headed in the wrong direction, with 49 per cent compared to 30 per cent who think it is going the right way. 

RedBridged asked a similar question in February and received an almost identical response. 

Australians who voted for Labor are also losing faith in the party's ability to manage the country's economy, having fallen to 25 per cent - down from 32 per cent in December. 

The Coalition was up by one point to 38 per cent - which is 2.3 per cent higher than the 2022 election. 

On a two-party preference Labor is still ahead with 52 per cent compared to the Coalition's 48 per cent. 

However, Labor's lead has dropped by two points after recording 54 per cent in March. 

Since March, the primary vote for the Greens party roe by two per cent to a total of 12 per cent - only 0.25 per cent below its voter share in the 2022 election. 

The poll recorded its biggest change in people planning to vote for another party, dropping from 16 per cent to 11 per cent in one month. 

The RedBridge data is in line with results from other pollsters including Resolve and Morgan and Freshwater, which both recorded a swing toward the Coalition and a drop in Labor party votes. 

The drop in confidence for Mr Albanese and his government handling the cost-of-living crisis comes after inflation increased again in Australia.

In March, the consumer price index rose to 3.5 per cent, up from 3.4 per cent in February.

This meant headline inflation, based on the monthly measure of annual price rises, was further above the RBA's two to three per cent target.

The Westpac bank is now forecasting a delay in rate cuts.

Petrol rises surged by 8.1 per cent over the year as Israel's war with terrorist group Hamas and now Iran pushed up crude oil prices, leading to premium unleaded selling for more than $2.20 a litre across Sydney.

Food is also dearer with bread and cereal prices rising by 7.3 per cent, as finance and insurance costs rose 8.2 per cent.

The quarterly measure of headline inflation, however, showed some moderation with the CPI rising by 3.6 per cent - down from 4.1 per cent in December - but it was higher than market forecasts of a 3.5 per cent increase.

An underlying measure of inflation, known as the weighted median, showed alarming annual price increases of 4.4 per cent, based on the goods and services with prices rising at the middle level of the range.

The Australian Bureau of Statistics calculates price increases based on analysing a basket of goods.