U.S. consumer confidence took an unexpected turn, falling sharply in early July as Americans doubt the economic recovery over concerns of high inflation.

The University of Michigan said its preliminary consumer sentiment index fell to 80.8 in the first half of July from a reading of 85.5 in June. The new number, the lowest since February, missed expectations, which were projected to be 86.5, Reuters reports.

As for why consumers are having less confidence, complaints have largely been about rising prices.

“Consumers’ complaints about rising prices on homes, vehicles, and household durables has reached an all-time record,” Richard Curtin, the survey director, said.

According to Curtin, the fall was caused by consumers misjudging the pace the economy would recover as the pandemic began to wind down. This involved underestimating the economy’s ability to reactivate supply lines and restore jobs, resulting in inflation.

“Rather than job creation, halting, and reversing an accelerating inflation rate becomes our top concern,” Curtin told Marketwatch.

Inflation