University of Michigan consumer survey Friday found consumer sentiment fell about 5% on fears inflation will rise to 4.3% under Trump administration tariffs with major U.S. trading partners.

Consumer sentiment continued to fall in February as worries over inflation and the possibility of higher prices to come from President Donald Trump ’s tariffs policy appeared to drive the University of Michigan’s monthly sentiment index down.

US consumer sentiment slumped in early February to a seven-month low on a spike in short-term inflation expectations related to concerns about tariffs.

US consumer confidence weakened in early February, hitting a seven-month low as concerns over inflation and tariffs grew. The University of Michigan’s preliminary sentiment index fell to 67.8, down 3.