U.S. consumer confidence has staged a solid recovery since President Trump announced unprecedented tariff rates in April, although fears of higher prices remain.
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In July, the Consumer Confidence Index (CCI) rose by 2.0 points to 97.2, above the estimate for 96.0 and rising from 95.2 last month. June’s figure was revised higher from 93.0.
“In July, pessimism about the future receded somewhat, leading to a slight improvement in overall confidence,” said Stephanie Guichard, Senior Economist, Global Indicators at The Conference Board.
Inflation Remains a Key Concern for Consumers
Inflation and tariffs are still major concerns among surveyed consumers. While the average 12-month inflation outlook fell to 5.8% from 5.9% in June, mentions of “high prices” and “inflation” ticked higher.
Consumers are also growing bullish on the stock market. 47.9% of respondents expect stocks to rise over the next 12 months compared to 37.6% in April.
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