Key Takeaways Consumers felt worse about the economy in August as a closely-followed survey showed increased worries about inflation and the labor market.It’s the first time in four months that consumer sentiment has declined.

Expectations of more inflation ahead have soured consumers' mood, according to the latest readout from the University of Michigan's long-running sentiment survey. "Consumers are no longer bracing for

U.S. consumer sentiment fell to 58.6 in August, missing forecasts, as inflation expectations surged and buying conditions worsened.