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Consumer sentiment falls to lowest level since postpandemic inflation peak

Consumer sentiment in the U.S. has dropped to its lowest level since the peak of post-pandemic inflation in June 2022, according to the University of Michigan's preliminary November reading, which fell to 60.4 from October's 63.8. This decline reflects growing concerns among Americans about the economy, exacerbated by persistent inflation and the resumption of student loan payments. The data also showed a significant drop in the one-year inflation expectation to 4.4 percent from 4.2 percent, the lowest since March 2021, while long-term inflation expectations remained steady at 3.2 percent. The report suggests that consumers are increasingly worried about their personal finances and the broader economic outlook, with particular pessimism among lower-income and younger consumers.

Read the Full The Hill Article at:
[ https://thehill.com/business/personal-finance/5267447-consumer-sentiment-falls-to-lowest-level-since-post-pandemic-inflation-peak/ ]