To provide a switching regulator compatible with both stability and responsivility at low loss.

An AC voltage formed with an inductive load is smoothed by a smoothing circuit to form a DC output voltage, which is inputted in an error amplifier that receives a reference voltage. The output voltage and the slope compensation component and current component that flows the inductive load are inputted in a PWM generating circuit, to form such PWM signal as the DC output voltage comes to be a wanted voltage corresponding to the reference voltage, for driving the inductive load through a drive circuit. The slope compensation component is modulated to increase or decrease according to changes of output voltage in positive direction or negative direction based on the voltage fluctuation detection of the output voltage.