US Economy Faces Record Low Consumer Sentiment Before Midterms
· World · ABC News, Indian Express
Consumer sentiment has dropped to the second‑lowest level in the University of Michigan’s 74‑year survey as voters head to the polls, reflecting widespread frustration with rising prices. Inflation hit a 3.7% annual rate in September, outpacing the Fed’s 2% target, while a poll shows more than half of Americans deem every major household purchase unaffordable. Gasoline prices rose sharply, with the average regular unleaded gallon at $4.22, $1.19 higher than a year ago, and diesel at $6.33, $2.65 above last year’s level. President Donald Trump promoted the economy’s “unbelievable growth” despite the inflation surge, blaming Iran’s war for higher fuel costs. The data suggest economic concerns will dominate voter decisions in the upcoming midterm elections.
Why it matters
U.S. voters now face record‑low confidence as inflation drives essential goods to unaffordable levels, potentially reshaping midterm outcomes. The economic pressure directly impacts swing districts where household budgets are strained, making it a pivotal factor for both parties’ campaign strategies.
Read the original report — ABC News
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