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Consumer sentiment falls to record low as gas prices, inflation worries rise

Consumer sentiment fell for the third straight month in May as supply disruptions in the Strait of Hormuz continued to lift gasoline prices.

Sentiment is now just below the previous historical low seen in June 2022, according to the University of Michigan Surveys of Consumers, whose Index of Consumer Sentiment fell 10% in May to 44.8 in May. 

In addition, consumers anticipate that business conditions will worsen over both short and long time horizons. The Current Conditions Index fell 12.8% to 45.8, and is down 22% year over year.

Consumer sentiment falls to record low as gas prices, inflation worries rise | Chain Store Age

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