High gas prices are displayed at a gas station on April 9, 2026 in Los Angeles, California.
Mario Tama | Getty Images
Consumer outlook plunged to a record low in April as fears mounted over rising energy prices and the broader impact of the Iran war, according to a University of Michigan survey Friday.
The university’s headline index of consumer sentiment tumbled to 47.6, down 10.7% from March to its lowest on record. Current conditions and expectations indexes also saw double-digit monthly declines.
The drop in sentiment coincided with a sharp spike in inflation expectations, with respondents seeing prices up 4.8% in a year from now, a full percentage point drop from the March reading to its highest since August. 2025.
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