Consumer Sentiment Index Falls to 82.8 as Inflation Concerns Heightens

U.S Consumer Sentiment Index fell from 88.3 in April to 82.8 in May, according to the University of Michigan press release. 

• The fall in confidence reflects rising consumer price fears, with inflation climbing 0.8% in April to mark a 4.2% annual jump, the highest since September 2008.
• Current Economic Conditions Index fell to 90.8 in May from 97.2 in the previous month.
• Consumer Expectations Index plunged from 82.7 in April to 77.6 in May.
• 1-year inflation outlook is now seen to climb to 4.6%.

SPY is up 1.32%, QQQ is up 1.84%, EURUSD is up 0.48%.