Inflation Worries Drag Down Consumer Sentiment As Americans Resume Student Loan Payments

University of Michigan's consumer sentiment index fell 7% in October, reflecting continued weight of high prices

Inflation has picked up recently due to higher oil and gas prices

Index of personal finances plunged 15% in October, primarily due to substantial increase in inflation concerns

October marks first month of Americans repaying student loans since pandemic pause

Inflation expectations for next year rose to 3.8%, highest since May 2022 and well above pre-pandemic levels