The U.S. Consumer Confidence Index fell to its lowest point in nearly four years in April.

A survey released on Friday showed that due to concerns about escalating inflation from the Iran war, the US consumer confidence index in April fell to its lowest level in nearly four years. The University of Michigan Consumer Survey Center stated that its consumer confidence index for the month ended at 49.8, the lowest level since June 2022. However, this value has rebounded from the 47.6 reported earlier this month. In March, the index was 53.3. "After the announcement of a two-week ceasefire agreement and a slight drop in gasoline prices, consumer confidence slightly recovered some of the losses at the beginning of the month," said Joanne Hsu, director of the Consumer Survey Center. "The Iran conflict seems to primarily affect consumer perceptions through the impact on gasoline prices and other potential prices. Military and diplomatic developments that do not alleviate supply restrictions or lower energy prices are unlikely to boost consumer confidence."