U.S. April consumer confidence falls to August low

04/24/2007

By John Parry

NEW YORK, April 24 (Reuters) - U.S. consumer confidence slipped in April to its lowest since last August, reflecting worries that rising gasoline prices could ignite inflation and crimp economic growth, a report showed on Tuesday.

The Conference Board said its index of consumer sentiment fell to 104.0 from an upwardly revised 108.2 in March.

"Rising prices at the gas pump continue to play a key role in dampening consumers' short-term expectations. The decline in the Present Situation Index -- the first decline in six months -- warrants monitoring in the months ahead, as further declines would suggest a softening in growth," said Lynn Franco, director of The Conference Board Consumer Research Center, in a press release.

Consumers' inflation expectations in the survey rose to their highest since August.

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