Consumers haven't felt this bad about the economy since November

Consumer sentiment declined to the lowest level in six months due to reaccelerating price increases, according to a recent survey. The survey also indicated that consumers are preparing for higher price increases in the coming year. The gauge, closely monitored by the Biden administration, dropped significantly from the previous month’s reading. Despite inflation being lower than last year, recent trends suggest a reversal, reducing expectations for a rate cut by the Federal Reserve. Inflation expectations for the year ahead surpassed the central bank’s target, causing concern among businesses. The survey reflects growing consumer worries about inflation and unemployment rates.

Consumer sentiment dropped to a six-month low as prices rose, according to a recent survey. Consumers are anticipating even higher price increases in the future. The gauge, closely watched by the Biden administration, fell significantly compared to the previous month. Inflation, which is lower than last year, has been moving in the wrong direction lately. This has led to reduced expectations for a rate cut by the Federal Reserve. Rising inflation expectations have become a concern for businesses. The survey highlights consumer concerns about inflation and unemployment rates.