The consumer sentiment regarding inflation expectations increased in March, where expectations for inflation rose to a year-long high of 4.9% compared to 4.3% in the previous month. The consumer confidence index fell to 57.9 in March, down from 64.7 in the previous month against the expected 63 from analysts.
Consumer sentiments in March dropped to its lowest level in 29 months, as they continued to be affected by the impacts of the tariff policies imposed by President Donald Trump and rising prices. Two months ago, consumers were expecting inflation at a rate of 3.3%.
According to the latest consumer sentiment survey from the University of Michigan published on Friday, sentiment fell to its lowest level since November 2022.
