US Consumer Sentiment Drops to Five-Month Low on Prices (1)

US consumer sentiment fell in October to a five-month low, as worries persisted about stubbornly high prices and the impact on their finances.

The final October sentiment index fell to 53.6 from 55.1 in September, a deterioration from the preliminary reading, according to the University of Michigan. A measure of current conditions dropped to the lowest since August 2022.

Consumers expect prices to rise 3.9% over the next five to 10 years, more than the 3.7% they anticipated a month ago, the data released Friday showed. Respondents expect prices to rise at an annual rate of 4.6% over ...