US consumer sentiment hits a near-record low before midterm elections

Independent voters’ economic anxieties highlight political implications of plummeting US consumer sentiment.Published On 23 Oct 202623 Oct 2026Consumer sentiment in the United States hit a near-record low in the final reading before the consequential midterm elections as cost-of-living issues weigh on US consumers.The University of Michigan’s Surveys of Consumers said its Consumer Sentiment Index dropped on Friday as continuing tensions between the US and Iran drove up prices at the grocery store and the petrol pump.Recommended Stories list of 4 itemslist 1 of 4US Social Security benefits to rise by 3.6 percent in 2027list 2 of 4How Iran messaging highlights cost of war ahead of US midterm electionslist 3 of 4Will Russia’s diesel shipment to the US lower prices before midterms?list 4 of 4Rising costs and tight budgets strain Americans ahead of midterm electionsend of listThe reading dropped to 48.0 this month from a final reading of 48.1 in September, leading to the second-lowest reading on record. The lowest was only a few months ago in May, when it stood at 44.8 points.The report measures how consumers feel about their personal finances at present and how they expect it will chan...