Consumers had grown more confident in the two previous months, but concerns over inflation are taking hold.
WASHINGTON — U.S. consumer confidence waned this month as concerns about inflation took hold after receding somewhat in recent months.
The Conference Board reported Tuesday that its consumer confidence index fell to 102.5 in October, from 107.8 in September. Consumers had grown more confident in the two previous months as rising gas prices moderated slightly even as the costs for other essential items remained elevated.
The business research group’s present situation index — which measures consumers’ assessment of current business and labor market conditions — fell sharply
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