The University of Michigan’s final May Consumer Sentiment Index reached a record low of 44.8 on May 22, 2026. This final reading was revised down from the preliminary 48.2 and April’s 49.8 print.
Middle East supply disruptions in the Strait of Hormuz increased fuel costs, causing confidence to fall for the third consecutive month. Long-run inflation expectations jumped to 3.9%.
High prices are actively eroding the finances of 57% of survey respondents. This cost-of-living squeeze led major consumer staples players like Walmart to issue cautious forward guidance this week.