Consumer confidence fell sharply in November, dropping to 88.7 — its lowest level since April and well below economists’ expectations.

The Conference Board noted that consumers expressed growing concerns about inflation, tariffs, politics, and a potential government shutdown.

Confidence declined across nearly all income, political, and age groups, with only the lowest-income bracket and adults under 35 showing slight improvement.

Expectations for inflation over the next year rose to 4.8%, and the Expectations Index remained below the recession-signaling threshold for the tenth straight month, Fox Business has reported.

Economists said the weak report reflects softening consumer demand and could increase pressure on the Federal Reserve to cut interest rates.