Consumer confidence unexpectedly rose in March despite inflation

Consumer confidence went up in March despite inflation that has become a top worry for Americans. 

The Conference Board’s index found consumer confidence rose to 107.2 in a report on Tuesday, Bloomberg reported.

In February, consumer confidence was down to 105.7.

The confidence could come from the jobs added to the economy and the drop in unemployment, Bloomberg noted. 

However, March also saw an increase in concerns about inflation, which has hit at its highest level in decades, with consumers believing it could get as high as 7.9 percent, according to the report. 

In a Gallup poll, 59 percent said they worry a “great deal” about the cost of living, with inflation the No. 1 economic issue among respondents. 

The concern about the economy has become a problem for the Biden administration, as another poll found that only 35 percent of voters somewhat or strongly approve of the job the president is doing with the economy. 

“Inflation appears to be the prime driver now of the Biden and Democratic deficits. Food and fuel are seen as driving costs up and creating a middle-class squeeze,” pollster Mark Penn said.