Framing Analysis
The Conference Board consumer confidence index declined to 90.8 in July from 92.2 in June, with the current-conditions component dropping 3.6 points to 114.9 while expectations remained unchanged at 74.7. Verified data link the July survey period to earlier energy-price volatility following the late-February U.S. and Israeli strikes on Iran and the subsequent closure of the Strait of Hormuz. References to gas prices in respondent comments stayed elevated though slightly lower than in prior months.