Consumer confidence dropped in February, with the Conference Board’s Consumer Confidence Index falling to 98.3, its lowest since June 2024.

This decline, the largest since August 2021, reflects growing concerns about a slowing economy, rising inflation, and uncertainties over President Trump’s planned tariffs.

Consumer pessimism grew about labor market conditions and future business prospects, with inflation expectations rising to 6%.

Economists fear the tariffs could further inflate prices, while consumers may pull forward demand in anticipation of higher costs, CNBC has reported.

The decline in confidence was widespread across age groups and income levels, with worsening views on the labor market.

Written by B.C. Begley