A customer shops in a grocery store on March 11, 2026 in Miami, Florida.
Joe Raedle | Getty Images
Consumer sentiment has tumbled to a fresh record low in May as fears of higher prices grow due to the U.S.-Iran war and elevated oil prices, the University of Michigan’s Surveys of Consumers said Friday.
The index of consumer sentiment fell to 44.8 from a preliminary reading of 48.2. It’s also well below the 49.8 level seen at the end of April.
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