Record concerns about rising prices

A falloff in consumer confidence in May is due to surging inflation that consumers anticipate will persist in the year ahead, according to the University of Michigan Surveys of Consumers. Record proportions of consumers reported higher prices across a wide range of discretionary purchases, including homes, vehicles and household durables. […] Read more »

Consumer Confidence Holds Steady In May

The Conference Board Consumer Confidence Index® held steady in May, following a gain in April. The Index now stands at 117.2 (1985=100), down marginally from 117.5 in April. The Present Situation Index—based on consumers’ assessment of current business and labor market conditions—increased from 131.9 to 144.3. However, the Expectations Index—based […] Read more »