US consumer sentiment unexpectedly fell to the second-lowest level on record and inflation expectations climbed to multi-decade highs amid growing concerns about tariffs.

U.S. consumer sentiment fell slightly in May for the fifth straight month, surprising economists, as Americans increasingly worry that President Donald Trump’s trade war will worsen inflation. The preliminary reading of the University of Michigan’s closely watched consumer sentiment index,

Consumer sentiment continued to decline in May as Americans expect Trump's tariffs to send inflation soaring over the next year.