US Consumer Sentiment Nears Record Low on Inflation Concerns
US consumers expect prices to rise at an annual rate of 7.3% over the next year.
Photographer: Yuki Iwamura/BloombergUS consumer sentiment unexpectedly fell to the second-lowest level on record and inflation expectations climbed to multi-decade highs amid growing concerns about tariffs.
The preliminary May sentiment index declined to 50.8 from 52.2 a month earlier, according to the University of Michigan. That was lower than all but one estimate in a Bloomberg survey of economists.