Consumer confidence rises 0.6 to 91.2 in June but remains well below pre-pandemic

Index still far below the 120-point pre-pandemic benchmark

The Conference Board reported Tuesday that its consumer confidence index rose 0.6 point to 91.2 in June, a slight improvement as gas prices declined. The index remains below its year-ago reading of 95.2 and far off the 120-plus levels it regularly reached before the pandemic.

The Iran war drove oil and gas prices sharply higher, accelerating inflation and reducing Americans’ inflation-adjusted incomes, the Associated Press reported. The Conference Board described the consumer outlook as mostly negative by historical standards.

Gas prices declined in June. Even with the improvement, consumer attitudes have recovered only slowly from the hit caused by the war.