US consumer confidence slips in April, inflation expectations highest since 1981

(Sharecast News) - Consumer confidence in the US worsened again as short-term inflation expectations hit their highest level in nearly half a century, the results of a closely followed survey revealed. The University of Michigan's consumer confidence index slipped from a reading of 57.0 at the end of March to 50.8.

That missed forecasts for a print of 54.5.

A subindex for expectations slipped from 52.6 to 47.2 (consensus: 50.8) and a gauge of sentiment around the current situation worsened from 57.0 to 56.5 (consensus: 54.5).

In parallel, a sub-index tracking expectations for prices one year ahead surged from 5.0% to 6.7% - its loftiest level since 1981.

Another linked to inflation expectations five years out came in at 4.4%, after a reading of 4.1% during the previous month.