Bidenflation Blues: Rising Prices Plunge Consumer Sentiment to Decade Low

Bidenflation Blues: Rising Prices Plunge Consumer Sentiment to Decade Low


The Biden administration’s failure to tackle high and rising inflation pushed consumer sentiment this month to its lowest level in a decade.

The University of Michigan’s final sentiment index fell to 67.4 during the month from 71.7 in October, according to data released Wednesday. That was a slight improvement from the mid-month reading and above the consensus forecast.

“Consumers expressed less optimism in the November 2021 survey than any other time in the past decade about prospects for their own finances as well as for the overall economy,” said Richard Curtin, the chief economist of the consumer survey. “The decline was due to a combination of rapidly escalating inflation combined with the absence of federal policies that would effectively redress the inflationary damage

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