Consumer sentiment has plummeted to its lowest level since May, driven by growing concerns over inflation and job market risks. A recent University of Michigan survey indicates that consumer confidence has unexpectedly weakened, falling to 55.4, contrasting with the expected figure of 58.1. Lower- and middle-income Americans are particularly anxious about employment prospects as inflation expectations rise, signaling potential challenges ahead for the economy. This decline underscores a broader sense of gloom among consumers about the economic outlook, further complicated by inflation and hiring slowdowns.