Inflation Fears Surge As Economic Expectations Plunge

Americans grew more pessimistic about the economy in September as inflation expectations surged and consumers braced for higher fuel prices and renewed trade tensions, according to data released Friday.

The University of Michigan's Index of Consumer Sentiment fell to 48.1 in September, down 7% from August and 12.7% from a year earlier, according to the university's final September survey. The deterioration was concentrated in consumers' outlook for the future, with the Index of Consumer Expectations plunging 10.1% in a single month to 46.3, while views of current economic conditions slipped just 1.9%...