Consumer sentiment worsened in August, snapping two consecutive months of improved attitudes among shoppers as President Donald Trump imposed sweeping new tariffs on nearly 70 countries. The fresh reading fell short of economists’ expectations.

US consumer sentiment unexpectedly fell for the first time since April and inflation expectations rose on lingering anxiety about the impact of tariffs.

U.S. consumer sentiment softened in August as households anticipated higher goods prices because of import tariffs.

Slowing rent increases and cheaper gas are offsetting some impacts of Trump's sweeping tariffs. Excluding the volatile food and energy categories, core prices rose 3.1%, up from 2.9% in June.

The Consumer Price Index rose slightly less than expected in July annually as tariffs showed only a slight influence on prices. Tariffs didn't give much boost.