As purchasing power continues to dominate consumer perceptions of the economy, the U.S.consumer confidence index October fell for the third consecutive month.
University of Michigan Survey data released on the 23rd showed that the final value of the US consumer confidence index in October was 48, a decrease of 0.2% from September and a decrease of 10.4% from the same period last year. index is alsoiran The figure was 15% lower than that recorded in February, before the conflict began.
The survey showed that the final value of the Current Economic Situation Index fell to 46.7 from 50.9 in September and 58.6 in October last year. Although the final value of the consumer expectations index rose slightly to 48.8 from 46.3 in September, it was still lower than 50.3 in October last year.
Consumers’ inflation expectations for the next year rose to 4.7% from 4.6% in September, and long-term inflation expectations also rose to 3.5% from 3.4%, both reaching their highest levels since May.
The survey shows that consumer dissatisfaction with the impact of high prices on living standards is continuously increasing. The proportion of consumers who said higher prices have hindered their personal financial situation increased for the fourth consecutive month in October to 56%, up from 45% in January this year.
