Americans more worried about economy

(CNN)– Many Americans appear to be worried about their wallets.

The Conference Board’s Consumer Confidence Index released its latest survey on Tuesday, Jan. 28, and it dropped nearly 5-and-a-half points in January.

The January reading was also much lower than many economists had predicted.

According to the report, most U.S. consumers are concerned about inflation.

The U.S. economy has historically low 4.1% unemployment rate, although inflation is still about the 2% target favored by the Federal Reserve.