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Questions remain about the economic outlook visualized with question marks on top of a $100 bill.. Source: Shutterstock.

U.S. consumer sentiment deteriorated further in late May to a fresh decade low as escalating concerns over inflation dimmed the outlook for the economy.

The University of Michigan’s final May sentiment index decreased to 58.4 from a preliminary reading of 59.1, data released Friday showed. In April, the gauge stood at 65.2.

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