Despite continual media chatter about inflation, consumer confidence rose unexpectedly in March, signaling an understanding that the current economic pressure will be relieved in a short timeframe, Bloomberg reports.
With employment rising above pre-pandemic rates, unemployment low and wages rising, the consumer confidence index increased 107.2 from February’s downwardly revised 105.7, which was a 12-month low. The measure was at 89.3 in January 2021.