Consumer sentiment rises for the first time in three months [View all]

Source: CNN Business

Updated Jun 12, 2026, 10:48 AM ET
PUBLISHED Jun 12, 2026, 10:06 AM ET


Washington - Consumer sentiment may finally be recovering after falling to historic lows due to wartime price spikes. The University of Michigan’s latest survey of Americans, released Friday, showed that sentiment rose 9% to a preliminary reading of 48.9 early this month, the first increase since February, before the United States and Israel’s destabilizing war with Iran sent global energy prices surging.

Gas prices, which heavily influence people’s perception of the economy, climbed in the several weeks after the war began, pushing sentiment down to a record low — twice. Gas prices have declined in recent weeks, which helped sentiment recover.

“This month, consumer sentiment ticked up… with consumers experiencing some relief due to the early-month easing in gasoline prices,” Joanne Hsu, the surveys’ director, said in a release. “Lower-income consumers exhibited a particularly strong sentiment increase, consistent with the fact that gasoline comprises a larger share of their budgets.”

Sentiment is finally up from a level lower than anything seen during foreign wars, 9/11, the Great Recession, the pandemic, and any prior bouts of high inflation in the post-World War II era.

Read more: https://www.cnn.com/2026/06/12/economy/us-consumer-sentiment-inflation-june