US consumer confidence tumbles to lowest level since 2014

The US consumer confidence deteriorated in January, slumping ​to its lowest level ‌since 2014, amid growing anxiety over high prices and a sluggish labor market, showed a survey by the Conference Board ​on Tuesday.

Dana Peterson, chief economist at the Conference Board, said: "References to ⁠prices and ⁠inflation, ​oil and gas prices, and food and grocery prices remained elevated. Mentions ‍of tariffs and trade, politics, and the labor market also rose, ​and references to health ‍insurance and war edged higher.”

The survey respondents’ answers reflected a pessimistic view toward the factors affecting the macroeconomy, such as prices and inflation, fuel and food costs, wars, and health and insurance, as well as the tariffs, which reflects the negative impact of the US administration.