Less Buying Power, Elevated Inflation Push Down Consumer Views

Less buying power, elevated inflation push down consumer views

Consumer sentiment dropped about 6% from last month, landing around 11% below a year ago amid continued worries that inflation will remain elevated for the foreseeable future, according to the University of Michigan Surveys of Consumers.

Consumer sentiment down in August, University of Michigan survey finds

The report showed that consumers expect prices to rise at an annual rate of 4% over the next year.

U.S. consumer sentiment drops, year-ahead inflation views fall

U.S. consumer sentiment fell in August for the first time in three months on a worsening economic outlook, even as expectations for inflation in the year ahead eased.

Consumer sentiment improves in August's final print as year-ahead inflation expectations cool

Consumer Sentiment Index: 51.7 vs. initial print of 51.0 and 55.2 in July, according to updated data released by the University of Michigan Survey of Consumers on Friday.