"Consumers are singing the blues. They aren't happy with high prices for gas, housing, electricity and many other items. It's clear consumers aren't going to feel much better until there's an end to the Middle East conflict."
"The largest monthly jump in gas prices in six decades caused a sharp spike in inflation last month, creating major challenges for the inflation-fighters at the Federal Reserve."
In April, U.S. consumer confidence increased to 92.8 from 92.2 in March, despite concerns over rising energy prices linked to the Iran war. Gas prices surged to $4.18 per gallon, the highest in nearly four years, contributing to inflation challenges. Consumer prices rose 3.3% year-over-year in March, marking the largest increase since May 2024. The rise in gas prices is straining budgets for lower- and middle-income households, making it difficult to afford essentials. Experts indicate that consumer sentiment will remain low until the conflict in the Middle East resolves.
Read at Fortune
Unable to calculate read time
Collection
[
|
...
]