Consumer Sentiment Sinks as Inflation Expectations Rise
- U.S. consumer sentiment fell more than expected in April as inflation expectations rose
- University of Michigan's consumer sentiment index dropped to 77.9 from 79.4 in March
- Households are becoming more pessimistic as higher prices take a toll
- Survey showed 1-year inflation expectations rose to 3.1% from 2.9% in March
- Inflation has stayed well above the Fed's 2% target for over 2 years
