Americans are feeling slightly better about the economy, but painfully high inflation is still keeping consumer sentiment at close to an all-time low, according to preliminary survey data released by the University of Michigan
on Friday.
The preliminary index for the university's Surveys of Consumers rose to 51.1 in July from the record low of 50 posted in June."The share of consumers blaming inflation for eroding their living standards continued its rise to 49%, matching the all-time high reached during the Great Recession," said Joanne Hsu, Surveys of Consumers director, in a statement."These negative views endured in the face of the recent moderation in gas prices at the pump.
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