Consumer confidence sinks to lowest level since July 2022

U.S. consumer confidence fell in April to its lowest points since July 2022, which was 21 months ago.

The Conference Board reported that the "consumer confidence index" dropped to 97.0, down from a revised 103.1 in the previous month.

"Elevated price levels, especially for food and gas, dominated consumer's concerns, with politics and global conflicts as distant runners-up," said Dana Peterson, chief economist at the Conference Board.

According to the Conference Board, the "Consumer Confidence Survey reflects prevailing business conditions and likely developments for the months ahead."

The monthly report "details consumer attitudes, buying intentions, vacation plans, and consumer expectations for inflation, stock prices, and interest rates."