U.S. consumer sentiment plunged to a decade low in November, according to a University of Michigan survey, which blamed surging inflation and a growing conviction among American consumers that no effective policies have been put in place to tame runaway prices. The university’s consumer sentiment index fell to a reading of 66.8 in November, down nearly 7 percent from October’s reading and a 10-year low. “Consumer sentiment fell in early November to its lowest level in a decade due to an escalating inflation rate and the growing belief among consumers that no effective policies have yet been developed to reduce the damage from surging inflation,” Richard Curtin, the survey director, said in a statement. Inflation has emerged as a key theme of the post-pandemic economic recovery, rising faster than wages and eroding the purchasing power of Americans. “Inflation concerns are weighing on consumer confidence,” Bankrate Chief Economic Analyst Greg McBride …