US consumer confidence rises in October as gas prices dip

US consumer confidence improved in October, with the Conference Board’s index climbing to 91.7 from 84.2 in September.

The rise of 7.5 points follows a modest fall in gasoline prices, although they remain well above last year’s levels. AAA reported the average price of a gallon of regular‑unleaded fuel at $4.27, down from $4.48 a month earlier but still higher than the $3.05 average recorded at this time last year.

Respondents’ assessment of their current financial situation increased by 6.9 points to 72.6, while the short‑term outlook rose 8.6 points to 120.4. Despite the uplift, the survey noted continued pessimism over high energy, goods and services costs.

Senior economist Fergus McCormick of The Conference Board linked the confidence boost to easing retail gasoline prices, but warned that the overall trend remains downward over recent years.

The data arrive two weeks before the US mid‑term elections, where inflation and affordability are key issues for President Donald Trump and the Republican Party.

Source: ABC News. Photo: Ekaterina Belinskaya / Pexels.