US Consumer Sentiment Falls to Eight-Month Low on High Prices
- Short- and long-term inflation views declined in early July
- University of Michigan consumer sentiment index drops to 66
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US consumer sentiment unexpectedly declined to the lowest level in eight months in early July as high prices continued to weigh on Americans’ views of their finances and the economy.
The sentiment index fell to 66 in July from 68.2, according to the preliminary reading from the University of Michigan. The median estimate in a Bloomberg survey of economists called for a slight increase to 68.5.