US consumer confidence hits its lowest level since 2014 ahead of midterms

Rising goods and fuel costs are cited as key factors in the sharp drop in consumer confidence.Published On 29 Sep 202629 Sep 2026United States consumer confidence has fallen to its lowest level since 2014, just over one month before the congressional midterm elections.Consumers pointed to higher costs for goods and services as the primary reason for the decline, according to The Conference Board, which released its monthly report on Tuesday.Recommended Stories list of 4 itemslist 1 of 4US Fed raises interest rates for first time in three yearslist 2 of 4What to know about US Federal Reserve’s first interest rate hike in 3 yearslist 3 of 4China faces oil challenge as prices soar and supply options narrowlist 4 of 4Trump says he is rolling back Biden-era US fuel economy rules for carsend of list“The Consumer Confidence Index deteriorated notably in September, following two prior months of softening,” Dana M Peterson, chief economist at The Conference Board, said in a release announcing the report.Consumers pointed to higher prices at the pump as one of the driving factors. The average price for a gallon (3.78 litres) of petrol has jumped 37 cents over the past month, according to the...