Consumers are feeling worse about the economy again

New York CNN Business  — 

Americans are feeling worse about the state of the economy again and it’s all because of rampant inflation.

Even as the pace of consumer price hikes moderated some in April, inflation remains near a 40-year high and is putting many US household budgets in a vice.

Consumer sentiment dropped by 9.4% between April and May, according to preliminary survey data released by the University of Michigan on Friday. That reversed the short-lived gain seen in April when sentiment was helped by a moderation in gas prices, which had been rising in response

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