U.S. Consumer Confidence Surges in July 2026 as Gas Prices Ease

Note: This section contains information in English only.
Source: Dukascopy Bank SA
The preliminary results for July 2026 indicate a notable rebound in consumer sentiment, reaching its highest level since February. The overall Index of Consumer Sentiment increased by 9.9% month over month to 54.4. Similarly, the Current Economic Conditions Index rose sharply by 15.1% from June to 54.9, while the Index of Consumer Expectations increased by 6.5% to 54.0. Despite these encouraging short-term gains, all major indices remain below their levels from a year earlier, with the overall sentiment index down 11.8% year over year

According to Surveys of Consumers Director Joanne Hsu, the broad-based improvement was primarily driven by easing gas prices. The positive shift was evident across all demographic groups—including differences in age, income, wealth, education, and political affiliation—with consumers without a bachelor's degree recording particularly strong gains. Respondents also reported significantly improved perceptions of buying conditions for durable goods and year-ahead business conditions, both of which increased by approximately 20%.

Inflation expectations also showed modest improvement, although they remain elevated. One-year-ahead inflation expectations declined to 4.2%, down from 4.6% in June. However, this figure remains substantially higher than the 3.4% recorded in February, before the Iran conflict began. Meanwhile, long-run inflation expectations remained unchanged at 3.3%.



Inflation expectations also showed modest improvement, although they remain elevated. One-year-ahead inflation expectations declined to 4.2%, down from 4.6% in June. However, this figure remains substantially higher than the 3.4% recorded in February, before the Iran conflict began. Meanwhile, long-run inflation expectations remained unchanged at 3.3%.
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