U.S consumer sentiment hits record low amid inflation concerns

U.S consumer sentiment hit a new record low in June amid growing concerns about inflation.

This is according to a closely followed University of Michigan survey released today.

The final index reading of 50 in the monthly Surveys of Consumers was just below the preliminary reading of 50.2 released two weeks ago.

The final June index - a 14.4% drop since May - represents the lowest recorded level since the university started collecting consumer sentiment data in November 1952.

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