00:00It's Benzinga, bringing Wall Street to Main Street.
00:02Americans' confidence in the economy fell in July as higher gas prices weighed on consumer sentiment
00:08after fighting between the U.S. and Iran intensified, according to PBS News.
00:13The conference board's Consumer Confidence Index declined to 90.8 from 92.2 in June.
00:20Average U.S. gas prices rose to $4.10 per gallon after Iran shut down the Strait of Hormuz,
00:27fueling inflation, and reducing inflation-adjusted incomes.
00:31President Trump has blamed Biden for inflation,
00:34although the rate rose from 3% at Trump's January 2025 inauguration to 3.5%,
00:40accelerating after the Iran war began.
00:42Food bought for home has become 33% more expensive since early 2019,
00:47while ground beef prices have surged 79% to 6.82 per pound.
00:52Consumers reported weaker views of the current job market as hiring slowed.
00:57While expectations for the labor market improved slightly but remained negative.
01:00For all things money, visit Benzinga.com.
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