Consumer confidence in the US declined in early October, and inflation continued to put pressure on households. People's views on the current economic situation fell to a record low. According to a survey released by the University of Michigan on Friday, the initial value of the consumer confidence index fell to 46.3, the lowest since May, and lower than the median forecast of 47.6 by economists surveyed by Bloomberg. The current condition indicator fell to 44.7 from 50.9 last month, the lowest in history. The expected indicator rose from 46.3 to 47.3, the first increase since July. Consumers expect prices to rise 4.7% over the next year, slightly higher than 4.6% last month. They expect prices to rise at an average annual rate of 3.5% over the next 5 to 10 years, which is also slightly higher than the September forecast. Joanne Hsu, who is in charge of the investigation, said in a statement that the confidence of low-income consumers and those with smaller stock portfolios declined sharply this month. The rising confidence of supporters of the Democratic Party and the Republican Party was offset by the decline in the confidence of the separatists. “Despite differences in positions, consumers of all political leanings believe that the economic outlook has weakened compared to before the outbreak of the Iranian conflict at the beginning of this year,” Hsu said.

Consumer confidence in the US declined in early October, and inflation continued to put pressure on households. People's views on the current economic situation fell to a record low. According to a survey released by the University of Michigan on Friday, the initial value of the consumer confidence index fell to 46.3, the lowest since May, and lower than the median forecast of 47.6 by economists surveyed by Bloomberg. The current condition indicator fell to 44.7 from 50.9 last month, the lowest in history. The expected indicator rose from 46.3 to 47.3, the first increase since July. Consumers expect prices to rise 4.7% over the next year, slightly higher than 4.6% last month. They expect prices to rise at an average annual rate of 3.5% over the next 5 to 10 years, which is also slightly higher than the September forecast. Joanne Hsu, who is in charge of the investigation, said in a statement that the confidence of low-income consumers and those with smaller stock portfolios declined sharply this month. The rising confidence of supporters of the Democratic Party and the Republican Party was offset by the decline in the confidence of the separatists. “Despite differences in positions, consumers of all political leanings believe that the economic outlook has weakened compared to before the outbreak of the Iranian conflict at the beginning of this year,” Hsu said.