A new survey from the University of Michigan shows that many people in the United States are unhappy with the economy. The final consumer sentiment index for October was 48.0, almost the same as September’s 48.1. This number, released on 23 October, is the second-lowest ever recorded. It means that most households still feel very negative about their economic situation, even if the main number did not change much.

The main reason for this problem is the high cost of living. People are worried about how expensive things are, especially when it comes to buying big items like cars and home appliances. Many think prices will continue to rise. The survey found that people’s feelings about buying these products dropped by 18%, and they now expect prices to go up by 4.7% in the next year.

Because of this negative feeling, many Americans are not making large purchases or changing their spending plans. The survey also comes just before important midterm elections, where the cost of living is one of the biggest issues for voters.