Consumer Sentiment Drops as Inflation Expectations Rise, Importing Higher Prices
- Consumer sentiment index falls to 77.9 in April
- One-year inflation expectations rise to 3.1% from 2.9%
- Import prices increase 0.4% in March; up 0.4% year-on-year
- Sentiment dip likely reflects higher gas prices despite stock rally
- Boston Fed President eyes "a couple" of rate cuts this year
