Concerns over inflation softens, but high prices and weakening income weigh on results.
Consumer sentiment in June inched down from May but remains up versus last year according to the University of Michigan Surveys of Consumers.
The Consumer Sentiment Index fell to 68.2 in the June 2024 survey, down 1.3% from 69.1 in May but 6.2% above last June’s 64.2.
While consumers exhibited confidence that inflation will continue to soften, many expressed concerns about the effect of high prices and weakening incomes on their personal finance, said U-M economist Joanne Hsu, director of the Surveys of Consumers. These developments offset
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