US consumer sentiment ticks down slightly, but most expect inflation to ease further
Travelers walk through Philadelphia International Airport in Philadelphia, Friday, Feb. 16, 2024. On Friday, March 15, 2024, the University of Michigan releases its preliminary reading of consumer sentiment for March. (AP Photo/Matt Rourke)
WASHINGTON (AP) — Consumers became slightly less optimistic about the economy this month, though they continue to expect inflation to cool further, a potential sign that price increases will keep slowing.
The University of Michigan's consumer sentiment index, released Friday in a preliminary version, slipped to 76.5 in March, barely below February's figure of 76.9. Americans' outlook has essentially remained fixed since January, when it leapt higher. Sentiment is now about halfway between its all-time low, reached in June 2022 when inflation peaked, and its pre-pandemic averages.
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