US Consumer Sentiment Falls to 47.8 as Gas Hits $4.28 and Inflation Fears Rise
Updated
Updated · Yahoo Finance · Sep 11
US Consumer Sentiment Falls to 47.8 as Gas Hits $4.28 and Inflation Fears Rise
3 articles · Updated · Yahoo Finance · Sep 11
Summary
The University of Michigan’s preliminary September sentiment reading fell to 47.8 from 51.7 in August, undershooting economists’ 51 forecast and marking a second straight monthly decline.
Inflation worries worsened alongside that drop: one-year expectations jumped to 4.6% from 4%, while longer-run expectations edged up to 3.4%.
Gas prices were a central drag after fuel costs rose 3.9% in August, lifting the national average to $4.28 a gallon as the Iran war and trade tensions squeezed household budgets.
August CPI already showed sticky price pressures—up 0.4% on the month and 3.4% from a year earlier—even as consumers said they still expect to keep holiday spending near last year’s levels.