Utah Economy Outperforms U.S. as Consumers Feel Inflation Pressure

SALT LAKE CITY, UTAH (May 15, 2026) – The Utah Chamber, in partnership with the University of Utah’s Kem C. Gardner Policy Institute, has released the April 2026 Roadmap to Prosperity Economic Dashboard to inform business leaders’ understanding of Utah’s economy. This tool prioritizes key data on the state’s economic outlook and actionable context for decision-makers.

“This month’s data tells a clear story: rising gas prices and renewed inflation are weighing on Utah consumers, with sentiment dropping sharply in April,” said Derek Miller, president and CEO of the Utah Chamber. “Utah businesses have weathered uncertainty before, and the Dashboard gives Utah leaders the timely, trusted data they need to plan ahead and stay competitive through whatever comes next.”

Three essential insights from the April 2026 Roadmap to Prosperity Dashboard include:

1. Zions Bank Consumer Sentiment Index for Utah drops sharply in April, following national sentiment trends. Rising gasoline prices after the onset of the Iran conflict in late February 2026 appear to have dampened consumer sentiment, which fell by a statistically significant 13.5% from 81.5 in March to 70.5.
2. Utah retail sales soften seasonally but remain firm year-over in February 2026. Utah taxable retail sales declined from January to February but increased 4% year-over.
3. Inflation continues to increase since the onset of the conflict with Iran. U.S. headline inflation increased to 3.8% year-over in April, up from 3.3% in March — the highest reading since May 2023.

The Dashboard is updated monthly, providing essential insights, tracking timely and leading measures and sharing pertinent indicators. This provides leaders with critical and timely information to make informed decisions.  

“Utah’s economy faces emerging headwinds as inflation and consumer concerns rise,” said Natalie Gochnour, director of the Kem C. Gardner Policy Institute. “Consumer sentiment dropped sharply in April, as higher gasoline prices and rising inflation appear to be weighing on households.”

To view the dashboard, click here.

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About the Utah Chamber

The Utah Chamber is a statewide chamber of commerce, representing the diverse voices of the state’s 80,000-plus employers and employees. The Chamber unites the voices of Utah businesses, local chambers and industry associations to build a stronger business environment, increase healthy job creation and support prosperous communities across the state.

About the Kem C. Gardner Policy Institute

The Kem C. Gardner Policy Institute serves Utah by preparing economic, demographic, and public policy research that helps the state prosper. We are Utah’s demographic experts, leaders in the Utah economy, and specialists in public policy and survey research. We are an honest broker of INFORMED RESEARCH, which guides INFORMED DISCUSSIONS and leads to INFORMED DECISIONS™. For more information, please visit gardner.utah.edu or call 801-587-3717.