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Luke F. Delorme | Money Talk: An objective look at the economy | Business

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The Index of Consumer Sentiment recently fell to a level that has not been seen since the end of 2011. In other words, survey respondents feel worse about the economy right now than they have at any point in the last decade.

According to the preliminary report from the survey’s chief economist, Richard Curtin: “Consumer sentiment fell in early November to its lowest level in a decade due to an escalating inflation rate and the growing belief among consumers that no effective policies have yet been developed to reduce the damage from surging inflation. One-in-four consumers cited inflationary reductions in their living standards in November, with lower income and older consumers voicing the greatest impact.”

Inflation has, indeed, spiked. Although increased inflation was somewhat expected coming out of the pandemic, the…

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