"Rising Inflation Fears Drive Sharp Decline in US Consumer Sentiment"

US consumer sentiment and Americans' view on the economy both fell more than expected in April, as inflation expectations rose, with the University of Michigan's consumer sentiment index dropping to 77.9. The survey's reading of one-year inflation expectations increased to 3.1% in April from 2.9% in March, reflecting frustration that the inflation slowdown may have stalled. This comes as the Consumer Price Index rose for the third straight month to 3.5% from a year ago, and inflation has remained well above the Federal Reserve's 2% target for more than two years.