Trending Now - Consumer Sentiment Dips as Iran Conflict Raises Concerns
WHO:
Joanne Hsu, director of the Surveys of Consumers at the University of Michigan
Oren Klachkin, financial market economist for Nationwide
3,335 U.S. adults polled by CBS News
WHAT:
The University of Michigan’s final March consumer sentiment index fell to 53.3 from a preliminary reading of 55.5.
About two-thirds of the survey responses were collected after the Iran war began on February 28, 2026.
Oren Klachkin stated, "Consumer sentiment pulled back in late March as households feel the heat from much higher gasoline prices, lower stock prices and spiking uncertainty."
Consumer sentiment index fell from 56.6 points in February 2026 to 53.3 points in March 2026, a decrease of 5.8%.
The consumer sentiment index of 53.3 is the lowest level since December 2025.
The S&P 500 has slumped almost 6% since the Iran war began on February 28, 2026.
Gas prices rose to $3.98 as of March 27, 2026, up $1 since the conflict began.
Brent crude oil prices rose 1.8% to $103.72 per barrel.
West Texas Intermediate (WTI) crude oil prices rose 3.04% to $97.35 per barrel.
Americans' inflation expectations rose from 3.4% in February 2026 to 3.8% in March 2026, the largest one-month increase since April 2025.
85% of the 3,335 U.S. adults polled reported that gas prices in their area have been increasing.
90% of respondents expect U.S. gas and oil prices to be higher in the short term due to the war.
WHERE:
United States
WHEN:
The Iran war began on February 28, 2026.
The survey period for the consumer sentiment index included responses from February 17, 2026, to March 23, 2026.
The consumer sentiment index report was released on March 27, 2026.
WHY:
Rising energy prices are fueling pessimism about the nation's economy, according to recent polling from CBS News.
Concerns over the Iran war and rising gas prices are weighing on Americans' views of the U.S. economy.
Higher-income households are more affected due to their wealth being invested in a volatile stock market.
HOW:
The consumer sentiment data was collected through surveys conducted by the University of Michigan.
(UPDATED March 27, 2026 19:19 UTC)
The University of Michigan’s final March consumer sentiment index has dropped to 53.3, down from a preliminary reading of 55.5, reflecting a significant pullback in consumer confidence. About two-thirds of the survey responses were collected after the Iran war began on February 28, and Oren Klachkin noted that households are feeling the pressure from rising gasoline prices, lower stock prices, and increasing uncertainty. Recent polling from CBS News indicates that these rising energy prices are contributing to a growing pessimism about the nation's economy.
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(UPDATED March 27, 2026 17:18 UTC)
The consumer sentiment index in the United States has dropped from 56.6 points in February to 53.3 points in March, marking the lowest level since December 2025, as concerns over the ongoing Iran war and rising gas prices weigh heavily on Americans' economic outlook. Gas prices have surged to $3.98, up a dollar since the conflict began, and 90% of respondents in a recent CBS News poll expect prices to continue rising in the short term. Additionally, inflation expectations have increased from 3.4% to 3.8%, the largest one-month jump since April 2025, with 85% of those surveyed reporting higher gas prices in their area.