Consumer sentiment worsens as some economists warn of 'stagflation'

Consumer sentiment dampened in September, extending a decline from the previous month as government data showed a hiring slowdown alongside an uptick of inflation , prompting concern about an economic double-whammy called " stagflation ." The reading came in lower than economists expected. The two-month downturn in shopper attitudes resumes a decline that took hold after Trump took office, University of Michigan Survey data on Friday showed. At its low point, consumer sentiment fell close to its worst level since a bout of inflation three years ago. The measure remains below where it stood in December, before Trump took office. Year-ahead inflation expectations held steady from August at 4.8%, the data showed. The outcome anticipated by respondents would put inflation well above its curren