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Consumer Sentiment
Travelers walk through Philadelphia International Airport in Philadelphia, Friday, Feb. 16, 2024. On Friday, March 15, 2024, the University of Michigan releases its preliminary reading of consumer sentiment for March. (AP Photo/Matt Rourke)

US consumer sentiment ticks down slightly, but most expect inflation to ease further

Consumers became slightly less optimistic about the economy this month, though they continue to expect inflation to cool further, a potential sign that price increases will keep slowing

By CHRISTOPHER RUGABER
Published - Mar 15, 2024, 10:27 AM ET
Last Updated - Mar 15, 2024, 10:27 AM EDT

WASHINGTON (AP) — Consumers became slightly less optimistic about the economy this month, though they continue to expect inflation to cool further, a potential sign that price increases will keep slowing.

The University of Michigan’s consumer sentiment index, released Friday in a preliminary version, slipped to 76.5 in March, barely below February's figure of 76.9. Americans' outlook has essentially remained fixed since January, when it leapt higher. Sentiment is about halfway between its all-time low, reached in June 2022 when inflation peaked, and its pre-pandemic averages.

Americans' outlook on the economy will likely have a significant effect on the presidential race, which will likely focus heavily on perceptions of President Joe Biden’s economic record.

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