U.S. consumer sentiment plunged to 57.9 in March, a nearly 2 ½ year low, as inflation expectations rise. According to the University of Michigan Surveys of Consumers, consumer sentiment slid 11% with declines seen consistently across all groups by age, education, income, wealth, political affiliations, and geographic regions.  Consumer expectations for the future deteriorated as year-ahead inflation expectations increased from 4.3% to 4.9%, the highest reading since November 2022.