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Rising gasoline prices sour U.S. consumer mood
Posted By admin On January 14, 2011 @ 9:30 am In Money Watch | Comments Disabled
Jan 14, 2011
Rising gasoline prices beat down U.S. consumer sentiment in early January, overshadowing an improved job outlook and passage of temporary federal tax breaks, a survey released on Friday showed.
A year-end surge in gasoline prices ratcheted up consumer inflation expectations to their highest in more than two years, according to the latest data from Thomson Reuters and the University of Michigan.
The surveys’ preliminary January reading on the overall consumer sentiment slipped to 72.7, below 74.5 in December. It fell short of a 75.4 reading predicted by economists polled recently by Reuters.
Consumers’ current mood deteriorated with average gasoline prices stuck above $3 a gallon. The surveys’ barometer of current economic conditions was 79.8 in early January, down from 85.3 in December and below a forecast of 84.6.
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URLs in this post:
 Reuters: http://www.reuters.com/article/idUSN1415083720110114
 Gasoline Prices More than Double Under Obama: $1.84 to $3.85: http://www.prisonplanet.com/gasoline-prices-more-than-double-under-obama-1-84-to-3-85.html
 Consumer Prices Take Another Record Plunge: http://www.prisonplanet.com/consumer-prices-take-another-record-plunge.html
 ABC Consumer Comfort Index Plunges To Year Lows On Surging Gas Prices: http://www.prisonplanet.com/abc-consumer-comfort-index-plunges-to-year-lows-on-surging-gas-prices.html
 Record-high Labor Day gasoline prices greet Democrats in Charlotte: http://www.prisonplanet.com/record-high-labor-day-gasoline-prices-greet-democrats-in-charlotte.html
 October consumer prices and home starts plummet: http://www.prisonplanet.com/october-consumer-prices-and-home-starts-plummet.html
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