US consumer sentiment nears record low amid rising prices

US consumer sentiment slipped to 48.0 in October from 48.1 in September, the University of Michigan survey showed, near the record low of 44.8 set in May after the Iran war began. Economists had expected 46.3. Rising prices linked to the Middle East conflict weighed on households. Sentiment is now 10% below a year ago, said survey director Joanne Hsu.