US Consumers Expect Ukraine War to Impact Economy & Inflation

A special poll conducted in The Conference Board’s March Consumer Confidence Survey® focused on the perceived impact of the war in Ukraine on a wide swath of expectations ranging from overall inflation to energy and food prices, economic growth and international travel.

Consumers expect the overall impact of the war in Ukraine to be negative, as well as far reaching. The most pronounced impacts are expected to be felt in energy prices. In fact, more than half of consumers said that prices at the pump would likely be the hardest hit. With gas prices hovering well above $4 a gallon, energy prices are likely to remain a top concern among consumers.

Meanwhile, consumers expect the impact on food prices to be somewhat more subdued. However, this may be partially due to increases in this sector that will take a bit longer to filter through the supply chain before consumers see visible changes on store shelves.

Less than a quarter anticipate the US economy to be very negatively impacted, but nonetheless expectations are that growth will slow in the near future.

For more information about the results of this special poll, please visit our website.