Inflation Worries Drag Down Consumer Sentiment As Americans Resume Student Loan Payments
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University of Michigan's consumer sentiment index fell 7% in October, reflecting continued weight of high prices
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Inflation has picked up recently due to higher oil and gas prices
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Index of personal finances plunged 15% in October, primarily due to substantial increase in inflation concerns
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October marks first month of Americans repaying student loans since pandemic pause
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Inflation expectations for next year rose to 3.8%, highest since May 2022 and well above pre-pandemic levels
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