One of the final snapshots of how Americans feel about the economy before voters head to the polls in the midterm elections shows a nation still deeply frustrated by the cost of living.
By the numbers: The University of Michigan's consumer sentiment index registered 48 in October, virtually unchanged from September's 48.1 and revised higher from a preliminary reading of 46.3.
That initial estimate was the second-lowest in the survey's history, behind the all-time low hit in May.
Even after the upward revision, sentiment remains 10% below its level this time last year.
Zoom in: Beneath the flat headline reading, consumers grew more pessimistic about current economic conditions, with that index falling more than 4 points to 46.7.
Buying conditions for durable goods plunged 18% amid high prices and rising borrowing costs — accounting for the entire decline in consumers' assessment of current economic conditions.
"Purchasing power continues to dominate consumer views of the economy," Joanne Hsu, director of the survey, said in the release.
But consumers' outlook for the future improved, with the expectations sub-index rising 2.5 points to 48.8.
The intrigue: Separate data released alongside the index showed that the share of Republicans citing high prices as a drag on their finances has surged roughly 50 percentage points since January, a much larger increase than among Democrats or independents.
The increase was also especially pronounced among consumers with little or no stock wealth.
The bottom line: Americans don't feel much worse about the economy than they did last month. But their already bleak outlook isn't improving, either.
The Conference Board releases its October consumer confidence survey Tuesday — one week before Election Day.
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Data: FactSet, company filings; Chart Axios/Matt Phillips
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