NEW YORK, May 22 (Xinhua) -- The U.S. consumer sentiment fell for the third straight month in May as supply disruptions in the Strait of Hormuz continue to boost gasoline prices.
The U.S. Consumer Sentiment Index released Friday by the University of Michigan (UM) Surveys of Consumers fell to 44.8 in the May 2026 survey, down from 49.8 in April and below last May's 52.2.
The Current Index fell to 45.8, down from 52.5 in April and below last May's 58.9. The Expectations Index fell to 44.1, down from 48.1 in April and below last May's 47.9.
The survey found that the cost of living continues to be a first-order concern, with 57 percent of consumers spontaneously mentioning that high prices were eroding their personal finances, up from 50 percent in April. Lower-income consumers and those without college degrees posted particularly strong sentiment declines, as they are more sensitive to increases in the cost of gas and other essentials.
"Critically, consumers appear worried that inflation will increase and proliferate beyond fuel prices, even in the long run," said UM economist Joanne Hsu, director of the surveys.
Year-ahead inflation expectations inched up from 4.7 percent in April to 4.8 percent this month, substantially exceeding the 3.4-percent reading seen in February prior to the start of the Iran conflict, along with all 2024 readings. Long-run inflation expectations climbed from 3.5 percent in April to 3.9 percent in May, notably higher than the 2.8 percent to 3.2 percent range seen in 2024. ■
