Minneapolis CNN Business —Heading into the all-important holiday shopping season, American consumers still aren’t feeling very confident about the state of the US economy. Strong incomes have thus far helped consumers, particularly lower-wage workers, cope with high inflation,” Hsu said in a statement. About 83% of respondents to the University of Michigan’s Surveys of Consumers said that it was a bad time to buy a home. The survey also showed that consumers’ inflation expectations for this year and five years out remained relatively unchanged at 4.9% and 3%, respectively. If consumers believe prices will remain high, that could factor into increased wage demands, which could cause businesses to raise prices.

---