The U.S. consumer sentiment, measured by the University of Michigan, has fallen to its lowest level in almost 11 years as of early March 2022, while the Treasury secretary predicts persistent high inflation for the year ahead. Preliminary results for the current month show the consumer sentiment index having a value of 59.7, which is a 4.9 percent month-on-month decline when compared to 62.8 in February, and a decline of 29.7 percent when compared to 84.9 in March 2021. The survey attributed the decline in consumer sentiment to falling inflation-adjusted incomes, driven by a hike in fuel prices exacerbated due to the Russia-Ukraine conflict. The expected inflation rate for the year ahead reached its highest level since 1981 while expected gas prices saw their biggest monthly upsurge in multiple decades. The University of Michigan report also presented the preliminary March result for the Current Economic Conditions Index at 67.8, down …