US consumer confidence nudges higher in March

[WASHINGTON] US consumer confidence unexpectedly edged up in March, but households anticipated higher inflation over the next 12 months amid a surge in gasoline prices and continued tariffs pass-through, a survey showed on Tuesday (Mar 31).

The Conference Board said its consumer confidence index increased to 91.8 this month. Data for February was revised slightly down to show the index at 91.0 instead of 91.2. Economists polled by Reuters had forecast the index at 88.0.

“Comments about prices and the cost of goods suggest that the cost of living remained at the top of consumers’ minds,” said Dana Peterson, chief economist at the Conference Board.

Consumers’ average and median 12-month inflation expectations surged in March to levels last seen in August 2025.

The month-long US-Israeli war with Iran has sent global oil prices surging more than 50 per cent. The national average retail ​price of gasoline crossed US$4 a gallon for the first time in more than three years on Monday, data from motorist advocacy group AAA showed. REUTERS