US consumer sentiment drops to near record low in May on inflation worries, tariff uncertainty

U.S. consumer sentiment continued to decline in May as Americans' expectations about future inflation rose and concerns persisted about the effect of President Donald Trump's tariffs.

The University of Michigan Surveys of Consumers on Friday released its Consumer Sentiment Index, which dropped to 50.8 in a preliminary reading in May after a final reading of 52.2 in April. Economists polled by Reuters had projected the index would rise to 53.4.

The latest figures leave the consumer...