US consumers still confident in April, but slightly less so

Updated: Apr 26, 2022 / 09:52 AM CDT

FILE – A customer wears a mask as she waits to get a receipt at a register in Target store in Vernon Hills, Ill., Sunday, May 23, 2021. Retail sales rose modestly in March 2022, but higher prices for food, gasoline and other basics took a big share of their wallet. Retail sales increased 0.5% after registering a revised 0.8% jump from January to February. (AP Photo/Nam Y. Huh, File)

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WASHINGTON (AP) — U.S. consumer confidence dampened slightly in April but remains high as inflation concerns continue to weigh on the short-term outlook.

The Conference Board said Tuesday that its consumer confidence index, which takes into account consumers’ assessment of current conditions and their outlook for the future, edged down to 107.3 in April, from 107.6 in March.

The business research group’s present situation index, which measures consumers’ assessment of current business and labor conditions, also dipped modestly this month to 152.6 from 153.8 in March.

The expectations index, based on consumers’ six-month outlook for income, business and labor market conditions, ticked up to 77.2 in April from 76.7 in March. It stood at 80.8 in February and remains a weak spot in the survey. Concerns about inflation retreated from an all-time high in March, the board said, but remain elevated.