Affected by inflation concerns, US consumer confidence has fallen to a historic low Odaily Planet Daily reported that due to the impact of the Iran War, the US consumer confidence index fell to a historic low in May, and long-term inflation expectations also significantly deteriorated. Data shows that the final value of the University of Michigan's Consumer Confidence Index in May dropped to 44.8, and consumers expect an annualized price growth rate of 3.9% over the next five to ten years, higher than April's 3.5% and reaching a seven month high. They also expect prices to rise by 4.8% in the next year. Gasoline prices continue to hover around their highest levels since 2022, exacerbating concerns among Americans about rising living costs and the failure to reach an agreement to end the war. The impact of inflation on household budgets, especially for low-income consumers, poses risks to future consumption prospects. Joanne Hsu, the person in charge of the survey, said, "The cost of living remains the top priority issue for people, with 57% of respondents proactively pointing out that high prices are eroding their personal financial situation, an increase from 50% last month." He said, "The key is that consumers seem to be concerned that inflation will not only spread to other areas beyond fuel prices, but this upward trend may even continue for a long time in the future