US Consumer Confidence Plummets to Record Low Amid Middle East Turmoil and Rising Energy Prices

Published: Apr 12, 2026 22:35

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Amid the current turmoil in the Middle East and soaring energy prices, US consumer confidence deteriorated significantly. The preliminary reading of the University of Michigan Consumer Sentiment Index for April came in at 47.6, a sharp decline from 53.3 in March, hitting a record low. Meanwhile, the preliminary 1-year inflation expectations reached 4.8%, surging 1 percentage point from March, marking the largest increase in nearly a year.

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