**[U.S. October Consumer Confidence Index Drops to Five-Month Low, Inflation Expectations Slightly Rise]** Odaily Planet Daily News – U.S. consumer confidence declined in early October as inflation continued to pressure households, and perceptions of the current economic situation fell to a historic low, according to a survey released Friday by the University of Michigan. The preliminary consumer confidence index dropped to 46.3, the lowest since May and below economists' median forecast of 47.6. The current conditions index fell from 50.9 last month to 44.7, marking a record low. The expectations index rose from 46.3 to 47.3, the first increase since July. Consumers expect prices to rise 4.7% over the next year, slightly higher than last month's 4.6%. They anticipate annual price increases averaging 3.5% over the next 5 to 10 years, also slightly above September's expectations. Joanne Hsu, who oversees the survey, stated in a release that consumer confidence among low-income households and those with smaller stock portfolios saw a significant decline this month. Confidence gains among Democrats and Republicans were offset by declines among independents. Hsu noted: "Despite differing political stances, consumers across the spectrum believe that the economic outlook has weakened compared to the period before the Iran conflict erupted earlier this year."