US Consumer Sentiment Falls to Lowest Level in 8 Months: Survey

Published on July 13, 2024

Consumer sentiment declined to the lowest level since December 2023 as American citizens continue to be troubled by high prices from elevated inflation, according to a recent survey. The Index of Consumer Sentiment declined by 3.2 percent this month from June, according to a July 12 data release by the University of Michigan’s Surveys of Consumers. The index fell by 7.7 percent from a year back. Consumer sentiment is now at the lowest level since December 2023 and is the third lowest over the past 12 months. Consumer sentiment continues to remain “stubbornly subdued,” said Joanne Hsu, director of consumer surveys. “Nearly half of consumers still object to the impact of high prices, even as they expect inflation to continue moderating in the years ahead,” she said....

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