Consumer Confidence Declines In May After Three Months Of Gains As Gas Prices Remain Elevated

U.S. consumer confidence declined slightly in May as gas prices remain high and inflation continues to rise. (Credit: Getty Images)

U.S. consumer confidence declined slightly in May as gas prices remain high and inflation continues to rise.

Concretely, the Conference Board's consumer confidence index dropped 0.7 points to 93.1. The entity added special questions to the survey, determining that rising prices have caused many Americans to change their spending habits.