Consumer Sentiment Slides as Inflation Fears Jump

A closely-watched sentiment gauge shows that U.S. consumers grew more pessimistic in November while inflation expectations jumped to a 22-year high.

People shop in a grocery store in Los Angeles on Oct. 12, 2023. Mario Tama/Getty Images

American consumers have grown more pessimistic as inflation fears surged to a 22-year high, flashing a warning sign for the U.S. economy.

The University of Michigan’s closely watched consumer sentiment gauge fell by 4 percentage points in November, to a reading of 61.3 percent.