Consumer Sentiment Decline

U.S. consumer sentiment fell to a record low of 49.8 in April, down from 53.3 in March, as Iran war-driven fuel costs weighed on households. Gasoline stayed above $4/gallon and diesel above $5. One-year inflation expectations rose to 4.7% from 3.8%, while five-year expectations increased to 3.5%. The decline was broad across political groups and income levels, with lower-income households most affected.