US Consumer Sentiment Drops to Record Low on Price Concerns

US consumer sentiment fell in recent weeks to a record low, indicating Americans’ increasing worries about mounting inflation due to the Iran war.

The preliminary April sentiment index slumped to 47.6 from 53.3 in March, according to the University of Michigan data out Friday. The survey period includes responses from March 24 to April 7. That was below all but one estimate in a Bloomberg survey of economists.