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NewsWPLG Local 10 – Main FeedAugust 25, 2026Miami-Dade

Consumer confidence drops to seven-month low as gas prices exceed $4 per gallon

The Conference Board's consumer confidence index fell to 89.4 in August, marking the lowest level in seven months. While respondents reported improved views on the current labor market, their short-term economic outlook declined amid persistent concerns over inflation and geopolitical instability.

economyinflationconsumer confidencegas priceslabor marketelections
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Why It Matters

The decline in consumer sentiment reflects ongoing public frustration with elevated costs for gas and food, which may influence voter behavior in the upcoming midterm elections.

Key Facts

  • The consumer confidence index fell to 89.4 in August from 90.2 in July.
  • Gasoline prices remain above $4 per gallon.
  • The personal consumption expenditures price index rose 3.7% in June compared to the previous year.
  • The unemployment rate is 4.1%, attributed in part to people leaving the labor market.
  • Employers cut 23,000 jobs in July.
  • Labor Department revisions removed 103,000 jobs from previously reported May and June payrolls.
  • 27% of respondents described jobs as 'plentiful' in August, up from 24.4% in July.
  • 14.6% of respondents expect more jobs to be available in the next six months, down from 16.4% in July.
  • The inflation rate was 2.8% before the Iran conflict began on Feb. 28.
  • The inflation rate was 2.5% at the time of President Trump's inauguration in January 2025.

Who's Mentioned

organizationThe Conference Board“The organization that publishes the consumer confidence index.”personJoe Biden“Former U.S. President referenced regarding inflation trends.”organizationFederal Reserve“The agency that tracks the personal consumption expenditures price index.”organizationLabor Department“The agency responsible for reporting payroll and unemployment data.”personDonald Trump“Current U.S. President facing potential political risk from economic conditions.”