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U.S. Consumer Sentiment Drops to 53.3 as Gas Prices Jump and Markets Slide

Rising fuel costs plus stock declines are raising near-term inflation fears.

A man shops for butter at a supermarket in Houston on March 17.
A shopper browses a food display while shopping for groceries at an Albertsons supermarket in Redmond, Washington, U.S., November 24, 2025. REUTERS/David Ryder/File Photo
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FILE PHOTO: A man pumps gas at an Exxon station as the price of oil and gas has surged amid the U.S.-Israeli conflict with Iran, in Washington, D.C., U.S., March 5, 2026. REUTERS/Ken Cedeno/File Photo

Overview

  • The University of Michigan index, finalized Friday, fell 6% to 53.3, its lowest since December and weaker than economists expected.
  • Year-ahead inflation expectations climbed to 3.8% from 3.4% in February, while longer-run expectations eased to 3.2%.
  • Survey director Joanne Hsu said the decline was broad across ages and parties, with the sharpest drops among middle- and higher-income households with stock holdings.
  • Oil prices are up more than 30% since late February and AAA pegs average gas near $3.98 a gallon after a $1 jump, while the S&P 500 has fallen almost 6%.
  • The survey ran from Feb. 17 to March 23 with most responses after the Iran strikes, and analysts warn higher fuel costs and market losses could curb spending and slow growth if they persist.