Consumer Sentiment Slides as Inflation Fears Jump

American consumers have grown more pessimistic as inflation fears surged to a 22-year high, flashing a warning sign for the U.S. economy. The University of Michigan’s closely watched consumer sentiment gauge fell by 4 percentage points in November, to a reading of 61.3 percent. The drop marks the fourth consecutive month of declines in the sentiment measure, with the deepening confidence slump coming as the twin geopolitical crises in Ukraine and Gaza show no sign of ending anytime soon. Meanwhile, inflation expectations jumped for both the near- and long-term, reflecting consumer fears that the recent easing of price pressures would be short-lived....