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Inflation in the United States causes loss of consumer confidence in February

Record-breaking inflation in the United States weighed on consumer morale in February, causing an index that measures consumer confidence to fall to the lowest level since October 2011, according to the preliminary estimate of the University of Michiganpublished on Friday.

This index fell to 61.7 points against 67.2 registered in January, disappointing analysts who expected 67.5 points.

Meanwhile, the current conditions index fell to 68.5 from 72.0, against expectations for a small rise to 73.0, its lowest reading since August 2011.

The expectations index consumer it fell to 57.4 from 64.1 in January, its lowest reading since November 2011.

The one-year inflation expectations index rose to its highest level since July 2008, to 5.0% from 4.9% in January.

Prices climbed 7.5% in the 12 months to January, the highest level in almost 40 years, according to the consumer price index (CPI) released Thursday by the Labor Department.

Source: Larepublica

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