US consumer confidence dips slightly but remains high

By MATT OTT
AP Business Writer

SILVER SPRING, Md. (AP) — U.S. consumer confidence declined modestly this month but remains high, even as prices for just about everything continue to rise. The Conference Board, a business research group, said Tuesday that its consumer confidence index — which takes into account consumers’ assessment of current conditions and their outlook for the future — ticked down to 110.5 in February from 111.1 in January. Consumer confidence remains high in the U.S. despite surging prices for virtually everything. Earlier this month, the Labor Department reported that for the 12 months ending in January, inflation hit 7.5% — the fastest year-over-year pace since 1982.