Inflation uncertainty highest in four decades.
Consumer sentiment has remained virtually unchanged in the past three months, at levels comparable to the pandemic low point in April 2020, according to the University of Michigan Surveys of Consumers.
The Consumer Sentiment Index posted a small decline in October, retreating to 71.7 from last month’s 72.8, and falling to just below the pandemic low of 71.8. The Expectations Index fell to 67.9 from last month’s 68.1 and was well below last year’s 79.2. The Current Conditions Index posted a larger loss in October, falling to 77.7 from last month’s 80.1 and last
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