US Consumer Sentiment Slumps as Inflation Expectations Rise
- University of Michigan index fell to six-month low in May
- Year-ahead inflation views rose to 3.5% in early May
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US consumer sentiment declined in early May to a six-month low as short-term inflation expectations and concerns about the job market picked up.
The sentiment index slid to 67.4 in May from 77.2, according to the preliminary reading from the University of Michigan. The figure was weaker than all forecasts in a Bloomberg survey of economists.