U.S. consumer confidence inches up even as the Iran war sends energy prices soaring
U.S. consumer confidence saw a slight increase in April, rising to 92.8 from 92.2 in March. This rise comes amid concerns over rising energy prices due to the ongoing war in Iran, which has significantly impacted inflation. Despite the uptick, consumer sentiment remains low, reflecting ongoing economic challenges.
- ▪The Conference Board reported a rise in the consumer confidence index to 92.8 in April.
- ▪Gas prices have surged to an average of $4.18 per gallon, the highest in nearly four years.
- ▪Consumer prices rose 3.3% in March compared to the previous year, marking the largest yearly increase since May 2024.
Opening excerpt (first ~120 words) tap to expand
U.S. consumer confidence rose modestly in April despite growing anxiety over soaring energy prices brought on by the war in Iran.Recommended Video The Conference Board said Tuesday that its consumer confidence index inched up to 92.8 in April from 92.2 in March. Though the gauge measuring American consumers’ confidence has ticked up the past two months, the reading remains mired near its lowest level since the COVID-19 pandemic. Respondents’ comments about prices, oil, gas and the war increased in April as the national average for a gallon of gas in the U.S. rose to $4.18 this week, up more than a dollar since before the war began. The last time U.S. drivers were collectively paying this much at the pump was nearly four years ago, following Russia’s invasion of Ukraine.
…
Excerpt limited to ~120 words for fair-use compliance. The full article is at Fortune.
Discussion
0 commentsMore from Fortune
