US consumers see record low sentiment as inflation expectations surge after Iran war disruption
Updated
Updated · Reuters · Apr 24
US consumers see record low sentiment as inflation expectations surge after Iran war disruption
12 articles · Updated · Reuters · Apr 24
The University of Michigan index fell to a historic 49.8 in April, with inflation expectations for the next year jumping to 4.7% and gasoline prices above $4 a gallon nationwide.
The Iran war’s disruption of the Strait of Hormuz has driven up oil, gasoline, diesel, and commodity prices, disproportionately impacting lower- and middle-income households and raising concerns about slower consumption growth.
Despite a ceasefire, a US Navy blockade and ongoing supply constraints keep energy prices high. Americans largely blame President Trump for rising fuel costs, intensifying political pressure ahead of November’s midterm elections.
Why are Americans spending freely while feeling worse than ever about the economy?
Is the US economy truly splitting into rich and poor, or does data tell a different story?
As recession odds climb, what are the key warning signs for investors in this overvalued market?
Are we on the brink of 1970s-style stagflation due to war and rising prices?
How does the war in Iran directly impact your wallet through gas and grocery prices?
With AI set to eliminate 15% of jobs, which careers will be the safest bets?