Consumer Sentiment Dips Slightly in April but Remains Near Recent Highs

Consumer sentiment dipped in March but remains near recent highs, with outlook largely unchanged in 2022
Sentiment down from 79.4 in March to 77.9 in April, halfway between June 2022 low when inflation peaked and pre-pandemic average
Consumers reserving judgment due to upcoming election which could impact economy trajectory
Sentiment fell most among Republicans, edged down for Independents, rose slightly for Democrats
Increase in gas prices likely contributed to decline in outlook; consumers expect 3.1% inflation next year, above Fed 2% target