Consumer confidence plunges amid inflation fears

(CNN)– According to several recent surveys, many Americans are worried about their wallets.

The souring economic mood of the country is being driven by an increase in inflation and concerns about President Trump’s tariff plans.

The ‘Conference Board’s Consumer Confidence Index’ was down for its third consecutive month in February.

The ‘National Federation of Independent Business’ uncertainty index’ increased in January to the third-highest rating in its history.

And a new survey from Wells Fargo shows roughly 75% of adults and teens say they plan on cutting back on spending due to economic worries.