Iran Conflict Drives US Consumer Sentiment to Record Low
President Donald Trump faces record-low approval and falling consumer sentiment as the conflict with Iran drives up fuel and grocery prices ahead of midterm elections.
U.S. consumer sentiment fell to 48.0 in October, the second-lowest reading on record, as the eight-month conflict with Iran continues to drive up prices. According to the University of Michigan’s Surveys of Consumers, diminished purchasing power and rising inflation expectations are fueling the downturn. One-year inflation expectations have risen to 4.7%, while five-year expectations reached 3.5%.
Donald Trump and Republican candidates defend the military actions, which began in February, as a necessary effort to prevent Iran from acquiring nuclear weapons. While Trump describes the war as a historic success, polls show significant voter disapproval linked to skyrocketing fuel prices caused by Iranian disruptions in the Strait of Hormuz. Some Republicans have recently called for the fighting to end quickly to stabilize the economy.
Democrats have made the conflict a central issue for the November 3 midterm elections, framing the war as the primary driver of inflation. Candidates such as Abdul El-Sayed argue that the war has directly increased the cost of groceries and gas. This economic instability has contributed to a record-low approval rating for the president and suggests Republicans may lose control of the House of Representatives and potentially the Senate.
