US Consumer Confidence Ticked Up Despite Inflation Spike

0:00It's April 28th. Welcome to Durham News Today, powered by AI. US consumer confidence ticked up just a bit in April, hitting 92.8 up from 92.2 the month before. This comes even with the war in Iran, driving up gas prices to levels we haven't seen in decades. Gasoline costs jumped hard, sparking the biggest monthly inflation spike in nearly four years. Consumer prices rose 3.3% from last March compared to a year earlier and 0.9% just from February to March. Folks in lower and middle income homes are filling the squeeze most as higher energy bills eat into cash for food and rent. Before the war, inflation was already stubborn at 2.8% in February. The Federal Reserve cut rates three times late last year to help the job market, but they're holding steady now with inflation above their 2%. Go. Don't expect cuts when they wrap their meeting tomorrow. Expectations for incomes, jobs and business stayed low at 72.2, the 15 straight month under 80, a recession warning.

1:03Signed while views on the current economy dipped to 123.8. Still, that slight confidence bump shows some resilience amid the chaos.