Consumer Confidence Slips to 11-Year Low Amid Elevated Inflation

Consumer Confidence Slips to 11-Year Low Amid Elevated Inflation
People go Black Friday shopping in Macy's in New York City, on Nov. 26, 2021. Brittainy Newman/AP Photo
Naveen Athrappully
Updated:

U.S. consumer confidence fell for the month of May as Americans deal with high inflation rates, according to the latest data from the University of Michigan’s survey of consumer sentiment.

The index of consumer sentiment fell to 59.1 in May, down 9.4 percent from the previous month’s index value of 65.2, according to the preliminary results of the survey. When compared to May 2021, the index was down by 28.7 percent. The May 2022 reading is the lowest since 2013.
Naveen Athrappully
Naveen Athrappully
Author
Naveen Athrappully is a news reporter covering business and world events at The Epoch Times.
Related Topics