University of Michigan consumer sentiment index fell to 49.8 in April from 53.5 in March, with early‑April low of 47.6.
Year‑ahead inflation expectations jumped to 4.7% in April (up from 3.8% in March), the biggest one‑month rise since April 2025.
A two‑week Iran‑US ceasefire eased gas prices, but oil price spikes from Strait of Hormuz closure kept gasoline above $4/gal, pressuring sentiment.
Expected business conditions deteriorated across demographics, matching levels seen during Trump’s trade‑policy era.