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Consumers are feeling even worse about the US economy thanks to inflation
US consumer sentiment hit a new record low in June amid growing concerns about inflation, according to a closely followed University of Michigan survey released Friday. The final index reading of 50 in the monthly Surveys of Consumers was just below the preliminary reading of 50.2 released two weeks ago. The final June index -- a 14.4% drop since May -- represents the lowest recorded level since the university started collecting consumer sentiment data in November 1952. "Consumers across income, age, education, geographic region, political affiliation, stockholding and homeownership status all posted large ... (full story)