U.S. consumer sentiment continued to decline in May as Americans' expectations about future inflation rose and concerns persisted about the effect of President Donald Trump's tariffs.

The University of Michigan Surveys of Consumers on Friday released its Consumer Sentiment Index, which dropped to 50.8 in a preliminary reading in May after a final reading of 52.2 in April. Economists polled by Reuters had projected the index would rise to 53.4.

The latest figures leave the consumer sentiment reading down 30% since January 2025 after five months of declines. The 50.8 reading is the second-lowest reading on record, after June 2022, the month that the most recent inflationary cycle peaked.

"Tariffs were spontaneously mentioned by nearly three-quarters of consumers, up from almost 60%

See Full Page