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U.S. Consumer Sentiment Dips as Inflation Expectations Climb
U.S. Consumer Sentiment Dips as Inflation Expectations Climb
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American Optimism faltered in August for the first time since April, with the University of Michigan's consumer sentiment index dropping 5% month-over-month. The decline coincides with a sharp rise in inflation expectations—jumping to 4.9% from July's 4.5%—as households brace for persistent price pressures.
Core inflation accelerated 0.3% between June and July, the steepest monthly gain this year. Recent wholesale data suggests the trend may worsen, contradicting annual CPI figures holding at 3% or below. "Consumers no longer fear the worst-case economic scenarios," said survey director Joanne Hsu, referencing April's tariff anxieties, but the mood remains cautious.
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