US Consumer Confidence Improves Amid Falling Gas Prices

WHO:

CNN - Joanne Hsu, director of the University of Michigan Surveys of Consumers

Bloomberg - Joanne Hsu, director of University of Michigan Surveys of Consumers

CNN - Charlie Wise, head of global research and consulting at TransUnion

WHAT:

CNN - Consumer sentiment rose 9% to a preliminary reading of 48.9 early in June, marking the first increase since February.

Bloomberg - The University of Michigan’s preliminary sentiment index increased to 48.9 in June from a record low of 44.8 in May.

CNN - Inflation is the top financial concern for consumers, rising to 50% from 47% in the second quarter.

CNN - Gas prices have declined in recent weeks, contributing to the recovery in consumer sentiment.

WHERE:

CNN - The sentiment survey was conducted in the United States.

WHEN:

Bloomberg - The sentiment index was reported in June, with the previous record low noted in May.

WHY:

CNN - Consumer sentiment fell to historic lows due to wartime price spikes, particularly from the war involving Iran.

CNN - The decline in gas prices helped improve consumer sentiment after a period of significant economic shocks, including the pandemic and inflation.

HOW:

CNN - The recovery in consumer sentiment is attributed to easing gasoline prices, which are a significant factor in consumers' economic perceptions.

CNN - Consumers are reportedly becoming more accustomed to price volatility and economic instability.

(UPDATED June 12, 2026 17:55 UTC)

Consumer sentiment in the United States has seen a notable rise of 9%, reaching a preliminary reading of 48.9 in June, marking the first increase since February. This improvement follows a record low of 44.8 in May and is largely attributed to declining gas prices, which have eased some of the financial pressures consumers face, particularly as inflation remains their top concern. Joanne Hsu, director of the University of Michigan Surveys of Consumers, and Charlie Wise, head of global research and consulting at TransUnion, highlighted that consumers are becoming more accustomed to price volatility and economic instability.