University of Michigan data shows inflation is starting to bite more for consumers at the low end of the income spectrum.

Rising prices for staples like food and gas was a key worry for respondents, along with concerns about COVID and political power.

Several indicators suggest that the economy is humming along. But recent surveys show, a growing number of people feel exactly the opposite.

Pandemic-related negativity and fear isn’t leading to negative or fearful economic behavior.

What’s behind the trend and how long it might last?

Wages are up and unemployment is down. So why has consumer sentiment plunged to levels not seen in a decade?

Inflation is eating away at incomes while the delta variant is discouraging consumers from going out and spending.

The University of Michigan’s consumer sentiment index shows the rise of the delta variant this summer has curbed spending.

All eyes will be on feelings about inflation for the month of July.

Even with the rollout of vaccinations and federal action on a relief package, many consumers are wary about the future.