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Consumer Sentiment Hits 1952 Low Amid 6% PPI Rise

5/24/2026

34 2 Full Breakdown

Summary

Story summary

U.S. price index (PPI) rose to 6% in April 2026, core PPI 5.2%, highest since December 2022, as Iran-related energy spikes lifted costs.
Consumer sentiment fell to 44.8 in May 2026, its lowest since November 1952, while the S&P 500, up 9%, fell in March after U.S.–Iran conflict pushed oil high.
S&P 500 trades at 21.1× earnings, above the 10-year average of 18.9, while analysts forecast a 22% earnings rise this year.

History

Historical Context

In October 1973 OAPEC imposed an oil embargo on the United States, driving world oil prices up nearly 300% and quadrupling U.S. gasoline costs. The shock spurred Nixon’s wage-price freeze and a 17% S&P 500 decline. The 2026 producer-price index rise to 6% and S&P 500 valuation of 21.1× echo that same geopolitical supply squeeze.

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Story summary

U.S. price index (PPI) rose to 6% in April 2026, core PPI 5.2%, highest since December 2022, as Iran-related energy spikes lifted costs.
Consumer sentiment fell to 44.8 in May 2026, its lowest since November 1952, while the S&P 500, up 9%, fell in March after U.S.–Iran conflict pushed oil high.
S&P 500 trades at 21.1× earnings, above the 10-year average of 18.9, while analysts forecast a 22% earnings rise this year.

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