Consumer Confidence Dips Amid High Gas Prices and Inflation

U.S. consumer confidence declined in May for the first time in three months, driven by high gas prices and elevated inflation.

- The Conference Board index fell 0.7 points to 93.1. - Gas prices averaged $4.49 per gallon, up from $2.98 before the Ukraine war.

- Inflation has outpaced wage growth, reducing purchasing power. - Polls show growing dissatisfaction with President Trump's economic policies.

The decline may pose challenges for Republicans in the midterm elections.