Consumer sentiment dipped slightly in October 🎀after gaining for two straight months.

The Michigan Consumer Sentiment Index came in at 68.9 in its preliminary reading for October, 澳洲幸运5开奖号码历史查询:down from its September reading of 70.1. While the survey’s results dipped some this month, they were still almost 8% better than a year ago. The survey also showed a decline in consumers’ perceptions of current economic conditions and their future e🐠xpectations. 

"Consumers are feeling slightly less upbeat as the high cost of living continues to aggravate them and election uncertainty clouds the outlook," wrote Nationwide Financial Markets Economist Oren Klachkin in a commentary.

Inflation Concerns Linger

After steadily moving lower for the past four months, consumer inflation expectations for the near term increased in October. Consumers also predicted 澳洲幸运5开奖号码历史查询:inflation will be around 2.9% next year, up from their estimations in the prior month. 

The survey results follow this week’s Consumer Price Index (CPI) for September, which showed that 澳洲幸运5开奖号码历史查询:inflation wasn’t falling as fast as economists were expecting. 

“Higher prices have remained a top concern, as 44% of consumers reported this as the primary driver of their opinion on household finances,” wrote Wells Fargo economists Sam Bullard and Jeremiah Kohl.