An oil tanker leaves the New York and New Jersey Port in New York, the United States, Aug. 24, 2026. The U.S. consumer sentiment in August fell about 6 percent from July and about 11 percent from a year ago as inflation concerns persisted, a survey showed Friday. (Photo: Xinhua)

NEW YORK, Aug. 28 (Xinhua) -- The U.S. consumer sentiment in August fell about 6 percent from July and about 11 percent from a year ago as inflation concerns persisted, a survey showed Friday.

The Index of Consumer Sentiment released by the University of Michigan (UM) Surveys of Consumers slipped to 51.7 in the August 2026 survey, down from 55.2 in July and below last August's 58.2.

The Current Economic Conditions Index fell to 51.9, down from 54.8 in July and below last August's 61.7. The Index of Consumer Expectations dropped to 51.5, down from 55.4 in July and below last August's 55.9.

The survey found that groups who are typically less-equipped to absorb increases in cost of living also exhibited stronger decreases in sentiment, including older consumers, lower- and middle-income consumers, and those with no stock holdings.

Though year-ahead inflation expectations slipped from 4.2 percent in July to 4.0 percent, it still substantially exceeds 3.4 percent seen in February before the Iran war began. Long-run inflation expectations held steady at 3.3 percent for the third consecutive month, remaining higher than its 2024 range of 2.8-3.2 percent.

People shop at a market in New York, the United States, Aug. 21, 2026. The U.S. consumer sentiment in August fell about 6 percent from July and about 11 percent from a year ago as inflation concerns persisted, a survey showed Friday. (Photo: Xinhua)

People shop at a market in New York, the United States, Aug. 21, 2026. The U.S. consumer sentiment in August fell about 6 percent from July and about 11 percent from a year ago as inflation concerns persisted, a survey showed Friday. (Photo: Xinhua)

Photo taken on Aug. 26, 2026 shows gas prices at a gas station in New York, the United States. The U.S. consumer sentiment in August fell about 6 percent from July and about 11 percent from a year ago as inflation concerns persisted, a survey showed Friday. (Photo: Xinhua)

People shop at a supermarket in New York, the United States, Aug. 26, 2026. The U.S. consumer sentiment in August fell about 6 percent from July and about 11 percent from a year ago as inflation concerns persisted, a survey showed Friday. (Photo: Xinhua)