Prepare For The HYPER INFLATION - US Consumer Confidence Index at Lowest Level Since 2011 | #Shorts
Channel: The Economic Truth
Date: 11/03/2022

#Shorts 

US consumer confidence index at lowest level since 2011. The University of Michigan announced the leading data on the consumer confidence index for March, which was prepared in line with the trends of American consumers. 

Accordingly, consumer confidence decreased by 3.1 points to 59.7 in March compared to the previous month. Inflation expectations at highest level since 1981 On the other hand, consumers' one-year inflation expectations rose to 5.4 percent, the highest level recorded since 1981. 

Chief Economist Richard Curtin, whose views were included in the statement, stated that the decline in consumer confidence continued due to the accelerating inflation along with the recently increased fuel prices as a result of Russia's attack on Ukraine. 

Pointing out that personal finance is expected to deteriorate greatly next year, Curtin said that consumers have very negative expectations about the economy. Curtin stated that the biggest source of uncertainty is inflation and the potential impact of Russia's attack on Ukraine.


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