US EditionUS consumer confidence inches higher in April despite Iran war, soaring gasoline prices
Short-term expectations rose even as consumers grew more concerned about gasoline prices and the war’s impact on inflation, the Conference Board said.
- The Conference Board reported Tuesday that its consumer confidence index rose to 92.8 in April from 92.2 in March, though the gauge remains mired near its lowest level since the COVID-19 pandemic.
- Soaring energy prices spurred by the Iran war have increased anxiety among Americans, with the national average for a gallon of gas rising to $4.18 this week, the highest in nearly four years.
- Heather Long, chief economist at Navy Federal Credit Union, said consumers are "singing the blues" about high costs for gas, housing and electricity. Short-term expectations for income and business conditions rose to 72.2 but remain well below 80.
- The Federal Reserve is expected to leave its benchmark interest rate unchanged when it wraps up its two-day meeting on Wednesday, as officials remain wary of exacerbating inflation above The Fed's 2% target.
- Consumer prices rose 3.3% in March from a year earlier, the sharpest increase since May 2024, while monthly prices jumped 0.9%, the largest monthly rise in nearly four years, underscoring persistent inflationary pressure.
48 Articles
48 Articles
Consumer confidence makes unexpected rise
U.S. consumer confidence unexpectedly edged higher in April amid a rally in share prices following a ceasefire in the war with Iran and improved perceptions of the labor market, helping to ease households' financial worries for now.
US Consumer Confidence Upticks Slightly in April as Price Worries Persist
The two primary monthly gauges of American consumers’ economic mood posted mixed results in April, as anxiety over the war in Iran continued to weigh on household spending. The Conference Board said on Tuesday that its Consumer Confidence Index slightly improved this month, climbing 0.6 points to 92.8. The March reading was also revised higher, to 92.2 from the previously reported 91.8. A reading above 100 generally indicates consumer optimism, …
U.S. consumer confidence inches up even as the Iran war sends energy prices soaring
U.S. consumer confidence rose modestly in April despite growing anxiety over soaring energy prices brought on by the war in Iran. The Conference Board said Tuesday that its consumer confidence index inched up to 92.8 in April from 92.2 in March. Though the gauge measuring American consumers’ confidence has ticked up the past two months, the reading remains mired near its lowest level since the COVID-19 pandemic. Respondents’ comments about price…
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