From fuel price hikes to cost-of-living concerns, US consumer sentiment nears record low

US consumer sentiment has declined slightly as rising prices related to the Middle East conflict affect households' financial views. The Consumer Sentiment Index fell marginally to 48.0 in October, approaching a record low. Independents reported significantly weaker sentiment while Democrats and Republicans showed improvements. Inflation expectations rose, suggesting concerns about future price increases among consumers. The Federal Reserve is expected to maintain current interest rates during their upcoming meeting.