U.S. Consumer Confidence Declines Amid Higher Gas Prices

Why it matters locally: Tennessee consumers are also likely to feel the pinch of declining confidence, as higher gas prices directly impact household budgets and transportation costs throughout the state.

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The Conference Board reported Tuesday that its consumer confidence index decreased in August. The index registered 89.4, a decline from 90.2 in July. This marks the lowest point for the index in seven months. Analysts link this decline to ongoing economic factors, including the consistent price of gasoline. Gas prices have remained above $4 per gallon across the United States.