Inflation's Long Shadow: War Fueled Anxiety Grips Consumers The University of Michigan's Surveys of Consumers paint a bleak picture in May: consumer sentiment hit a fresh record low driven by fears of higher prices and rising inflation.
The index fell to 44. 8, below the 49. 8 level seen at the end of April, marking the third straight month of growing unease among consumers. The US Iran war is just one factor fueling this anxiety.
A perfect storm of geopolitics and economic uncertainty has been building for months, with volatile markets worldwide weighing the likelihood and implications of an extended conflict.