The index slipped to 68.9 in October from 70.1 in September, which had been its highest reading since May. "Consumers continue to express frustration over high prices,” said Joanne Hsu, director of consumer surveys at University of Michigan.
According to numerous polls, the economy remains one of the key issues in the election campaign with former president Donald Trump being favored by most Americans as the candidate who would be best able to improve things.
The Biden/Harris administration is held responsible by many for the sharp rise in basic commodities such as groceries and fuel.
