Consumer Confidence Plummets Amid Inflation Fears | Business and Finance News

Consumer confidence just took a major hit, plummeting to 51.0 in August—the lowest since before the Iran conflict and down sharply from July’s 55.2. Both short-term and long-term economic outlooks are tanking, with Republicans, older adults, lower-income households, and non-college grads feeling the brunt. Inflation expectations are climbing to 4.3% next year, and fewer people believe their pay will keep up. With gas prices still over $4 a gallon, it’s clear: consumer sentiment is heading south. Listen in comfort:Get a discount on a Soli Pillow: http://solipillow.com/discount/dnn. Advertise on DNN:[email protected] This is an automated, high-level news summary based on public reporting.Report issues to [email protected]. View sources & latest updates:https://sources.thednn.ai/1ddddde44f12f178