Why aren’t Americans happier about the economy? They are paying higher prices for almost everything
Americans should be more bullish about the economy with the U.S. on the verge of defeating the coronavirus pandemic, but they aren’t. Chalk it up to higher prices for almost everything they buy.
All three major surveys of consumer attitudes took a turn for the worse in May after advancing steadily since the beginning of the year. The latest to show some softening was the index of consumer confidence from the Conference Board.
Read: Euphoria over the U.S. economy reopening is fading, survey shows
The new worry? Inflation. Consumer prices soared again in April to push the yearly increase in inflation to a 13-year high of 4.2%.
Concerns about rising prices appear to be on the verge of replacing the deep angst over the deadly coronavirus.
Inflation is everywhere. At the local supermarket, the nearby Home Depot