U.S. consumers are increasingly concerned about tariffs leading to higher inflation, as shown in a University of Michigan survey. The index of consumer sentiment dropped to 50.8 in May from 52.2 in April, with year-ahead inflation expectations rising to 7.3% and long-term expectations to 4.6%. The survey was conducted before the U.S. and China announced a 90-day pause on most tariffs. This news is developing, and updates are expected.
Source: https://www.cnbc.com/2025/05/16/consumer-sentiment-may-inflation-expectations-tariffs.html