Consumer optimism slides sharply as fears escalate over rising prices and jobs

Consumer sentiment fell sharply in September as an inflation-weary public took a dimmer view on the labor market and the impact higher prices would have on their finances, the Conference Board reported Tuesday.The board's Consumer Confidence Index tumbled to 81.9, a decline of 6.7 points and a reading well below the Dow Jones consensus forecast for 89.Respondents cited concerns over inflation and the jobs outlook. For the first time in the four-year history of the survey question, more respondents said their personal finances bad as opposed to good."Consumer appraisals of current business conditions became negative for the first time since September 2024," said Dana Peterson, the Conference Board's chief economist."Consumers' write-in responses regarding factors affecting the economy were mostly pessimistic in September," she added. "References to prices, the high cost of goods and services, and oil and gas prices in particular, rose to new heights, reflecting September's surge in fuel costs."Other readings showed similar deterioration: The board's Present Situation index fell 7.9 points to 109.3, while the Expectations Index, a six-month outlook window, slipped 5.9 points to 63.6....