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The University of Michigan index dropped to 51.0 from 55.2 in July, with consumers expecting higher inflation tied to the Middle East conflict
Yuki Iwamura/Bloomberg via Getty Images
U.S. consumer sentiment fell about 8% in August, snapping two consecutive months of improvement as worries about inflation linked to the Middle East conflict weighed on households.
The University of Michigan's Index of Consumer Sentiment came in at 51.0 for August, down from 55.2 in July, a month-over-month decline of 7.6%. Economists surveyed by Reuters had forecast a reading of 54.5. A Bloomberg survey of economists had projected 55.
