Consumer Sentiment Falls to 10-Year Low on Omicron, Inflation Woes

Pedestrians walk by a sign at an Old Navy store in San Francisco, Cali., on August 25, 2009. Justin Sullivan/Getty Images

Sentiment among American consumers fell to a decade low in late January, with Michigan University’s monthly confidence survey blaming the decline on pandemic fears and worries about high inflation.

The University of Michigan’s Consumer Sentiment index fell to a reading of 67.2 in January from 70.6 in December, pushing the gauge to its lowest reading since November 2011.