As inflation expectations soar, American consumer confidence is deteriorating:

The March Consumer Confidence Index fell 3.3 points to 53.3, the lowest level since December 2025.
The index is currently below the lows seen during the 2008 financial crisis and is nearly on par with the lows during the 1980s recession.
Meanwhile, the 1-year inflation expectation increased by 0.4 percentage points to 3.8%, the largest monthly gain since April 2025.
Approximately 66% of surveyed consumers were interviewed after the outbreak of the Iran war on February 28, and these respondents reported significantly worse sentiment and higher inflation expectations compared to those surveyed before that date.
Consumer confidence has generally declined across all age groups, with middle- and high-income consumers experiencing particularly large drops, driven by soaring gasoline prices and financial market volatility undermining their confidence.