The final reading of the UMich Index of Consumer Sentiment in April is 52.2, a -8.4% MoM decline and slightly above the early estimate of 50.8.

• The Current Economic Conditions index fell -6.3% MoM to 59.8, and the Index of Consumer Expectations fell -10.1% MoM to 47.3.
• Expectations have fallen a precipitous -32% since January, the steepest three-month percentage decline seen since the 1990 recession.

Year-ahead inflation expectations surged from 5.0% last month to 6.5% in April, the highest reading since 1981 but slightly down from the early reading of 6.7%.

• This month’s rise was seen across all three political affiliations.
• After the April 9 partial pause in tariff increases, inflation expectations ebbed but remained substantially elevated relative to March.
• Long-run inflation expectations climbed from 4.1% in March to 4.4% in April, reflecting a particularly large jump among independents.