According to an analysis published this Tuesday by the Conference Board, the US consumer confidence index fell from 92.2 in June to 90.8 at the end of this month amid a new increase in gasoline prices and renewed conflict between the United States and Iran.

In June, consumers had slightly improved their outlook on the economy as fuel prices fell to $3 per gallon; However, new fighting in the Middle East reverses the idea of ​​an improvement in the coming weeks, fueling the uncertainty of instability and higher prices.

At the beginning of this week, the cost of gasoline, according to the American Automobile Association (AAA) report, was above $4 per gallon and, in addition to higher costs on other goods such as food and utilities due to high inflation, Americans are feeling pressured, reducing their budgets and even using their savings or loans to make ends meet.

With fuel prices so high, according to Matt Twiford, chief financial officer of Pegacorn Group, a regular public transportation user incurs an additional expense of between $40 and $100 per month. “It's painful, but knowing the real number lets you know how much you need to adjust your budget instead of panicking and cutting back excessively,” he said.

To prepare the Conference Board report, the responses of a group of Americans were collected between July 1 and 22, who were pessimistic about the volatility of prices, in addition to the labor market, where the perception decreased noticeably.

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