American consumers are getting pummeled from all sides: Supply chain constraints and high demand mean delays for products and rising costs. Now gas prices are soaring on the back of the Russia-Ukraine conflict, creating an even more bitter cocktail.
An early look at how Americans are feeling about the economy in March found that US consumer sentiment declined more than expected, the University of Michigan reported Friday. The index of consumer sentiment dropped to 59.7 points, the lowest level since 2011. “The greatest source of uncertainty is undoubtedly inflation and the potential impact of the Russian invasion of Ukraine,” said Richard Curtin, chief economist at the Surveys of Consumers.
