US consumer sentiment drops as Iran war fuels inflation fears

Filed 1w ago · Via thedailystar.net · The Buffoon Desk

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Kevin MacLeod · incompetech.com · CC BY 4.0

Photo: Raimond Spekking · CC BY-SA 4.0 · via Wikimedia Commons

US consumer sentiment fell about 8 percent in August to 51.0, according to the University of Michigan's Joanne Hsu, ending two months of improvement and missing market expectations.

The drop is tied to the ongoing US-Israel war against Iran, which began February 28 and has sent energy prices and inflation expectations climbing; year-ahead inflation expectations rose to 4.3 percent from 4.2 percent.

Ninety-two percent of consumers expect their income to keep losing the race against inflation, and expected business conditions sank double digits. Sentiment among Republicans fell hardest, down 19 percent since before the war and now at its lowest since the 2024 election.

The full dispatch is available from the source below.

✒ FROM THE EDITORIAL DESK

Nothing quite says 'strong economy' like the president's own base losing faith in it faster than everyone else. The administration can keep calling the war a strategic triumph, but voters pumping $4 gas seem to have their own metrics.

Source: Read the original at thedailystar.net → Scored: Reign Supreme · Kevin MacLeod · CC BY 4.0

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