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US consumer confidence inches up despite soaring gas prices brought on by war in Iran
Job-market views improved, but inflation expectations rose to their highest since August 2025 as oil prices climbed above $4 a gallon, the Conference Board said.
- The Conference Board reported on Tuesday that the consumer confidence index rose to 91.8 in March from 91 in February, exceeding analyst expectations of 88.
- Despite concerns over the war in Iran and rising energy costs dominating respondents' minds during the survey period, economic optimism improved; Dana Peterson, The Conference Board's chief economist, attributed the uptick to a "modest improvement" in current business conditions.
- Gasoline prices surged above $4 per gallon on Tuesday for the first time since 2022, according to AAA; Patrick De Haan, GasBuddy's head of petroleum analysis, told Forbes that such prices act as a "drag" on the economy.
- Consumers expect inflation to rise over the next 12 months, with about 42% anticipating higher interest rates, while Joanne Hsu, the survey's director, noted the "persistence of high prices continues to be the dominant factor" for economic views.
- Rising oil prices will force the average U.S. household to spend an additional $740 this year on gas, according to the Stanford Institute for Economic Policy Research, as long-term consumer expectations deteriorated amid persistent cost pressures.
27 Articles
27 Articles
The U.S. consumer sentiment index unexpectedly rose to 91.8 in March from 91 in February, the Conference Board reported today. Analysts had expected the index to fall, but better assessments of the current situation outweighed lower expectations.
(AFP) Consumer confidence in the country continued to rise in March, despite strong concerns over the rise in gasoline prices, according to a poll published on Tuesday.Read more
Trump Effect: Consumer Confidence Defies War Fears, Rises for Second Straight Month
American consumers shrugged off the Iran war and rising gas prices in March, pushing the Conference Board’s Consumer Confidence Index up to 91.8 from 91.0 in February — well above the 87.9 reading economists surveyed by Bloomberg had expected. It The post Trump Effect: Consumer Confidence Defies War Fears, Rises for Second Straight Month appeared first on Breitbart.
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