US consumer confidence hits lowest level since 2014

US consumer confidence fell in September to its lowest level since April 2014, the Conference Board said Tuesday, as households cited prices, fuel costs and wider economic uncertainty.

The Conference Board's consumer confidence index fell by 6.7 points to 81.9.

Dana Peterson, the organisation's chief economist, said consumers' written responses about the economy were mostly pessimistic. She said references to prices, the high cost of goods and services, and oil and gas prices rose to new highs after a surge in fuel costs.

The cost of living is a major issue before November's midterm elections, in which Democrats are seeking to take control of Congress from President Donald Trump's Republican Party.

Global oil prices have risen since Trump and Israel launched war against Iran in late February, while Tehran's retaliation targeted Washington's Gulf allies and virtually shut a key energy trading route. AAA motor club data showed the average US price of a gallon of regular gasoline was up almost 50 percent since the start of the war.

Heather Long, chief economist at Navy Federal Credit Union, called the data concerning and said American consumers were worried about the economy as the pre-Christmas shopping season begins.