US consumer sentiment stays near record low in October
US consumer sentiment edged down to 48.0 in October as rising prices and geopolitical conflict weighed on households ahead of midterm elections. Inflation expectations for the coming year ticked up to 4.7 percent.
United States consumer sentiment edged down to 48.0 in October from 48.1 in September, hovering near the all-time low of 44.8 set in May. The slight drop reflects lingering affordability concerns ahead of tight midterm congressional elections. The persistent pessimism complicates Federal Reserve efforts to steer inflation back to its 2% target.
