US consumer confidence slips to 93.1 on inflation fears
The Conference Board index fell to 93.1 in May as households worried about the inflationary impact of conflict with Iran. This decline was less than expected.
Consumer confidence in the United States fell 0.7 points to 93.1 in May as geopolitical conflict fueled inflation fears. The decline follows a revised April reading of 93.8, which outperformed initial estimates of 92.8. Persistent worries over energy costs suggest household spending may cool despite a resilient labor market.
### Geopolitics Drive Inflation Anxiety The Conference Board reported on Tuesday that its consumer confidence index retreated from April's upwardly revised highs. While the 93.1 reading exceeded the 92.0 level forecast by Reuters economists, the underlying data revealed growing unease. Consumers frequently cited the war in the Middle East as a primary driver of price concerns.
