The final September 2026 University of Michigan Consumer Sentiment Index printed at 48.1, landing squarely in the dominant 46.0–48.9 bin and reflecting a 7% month-over-month drop from August’s 51.7 amid climbing year-ahead inflation expectations that rose to 4.6%. Persistent concerns over high prices eroding household purchasing power, alongside fallout from elevated fuel costs and trade tensions, drove the decline in both current conditions and expectations components. This outcome aligns with the survey’s trajectory since early 2026 and the consensus range around the preliminary 47.8 print. A sharper rebound in durable-goods buying conditions or an unexpected easing in short-term inflation perceptions could have pushed readings higher, though the broad-based weakening across political groups limited upside variance.