NEW YORK, April 24 (Xinhua) -- The U.S. consumer sentiment fell for the second consecutive month in April, reaching a low comparable to its mid-2022 trough amid wars and high prices for gas and durable goods.
The U.S. Consumer Sentiment Index released Friday by the University of Michigan (UM) Surveys of Consumers fell to 49.8 in the April 2026 survey, down from 53.3 in March and below last April's 52.2.
The Current Index fell to 52.5, down from 55.8 in March and below last April's 59.8. The Expectations Index fell to 48.1, down from 51.7 in March but above last April's 47.3.
The survey found that declines in sentiment were seen across political party, income, age and education. Expected business conditions declined for both the short and long run, nearly matching year-ago readings when the reciprocal tariff regime was implemented.
Current personal finances worsened about 9 percent in April, with about half of consumers spontaneously mentioning high prices eroding their living standards and 22 percent citing weakening incomes.
Gas prices loom large for consumers, with one-third of respondents providing unsolicited comments on those prices. Average year-ahead gas price expectations surged almost sixfold from February, reaching its highest reading since June 2022, soon after the peak of post-pandemic inflation.
Consumers' concerns over high prices have increased, with economic disruptions from the Iran conflict adding to the upward price pressures from tariffs over the past year. Buying conditions for vehicles fell 12 percent in April.
"The Iran conflict appears to be passing through to consumer views primarily through effects on prices, particularly gas and energy prices stemming from disruptions to shipping," said UM economist Joanne Hsu, director of the surveys. "At this time, consumers do not foresee relief from high prices in the near future." ■
