Consumer sentiment unexpectedly decreased in May to the lowest level in six months as Americans grew concerned over the outlook for jobs and the economy, Bloomberg reported.

The Conference Board’s confidence index dropped to 60.8 from a revised 66 reading in April, according to figures from the private research group released today.

Consumer finances have been squeezed by rising costs of food and fuel and erosion in home equity, causing spending to slow. A drop in gasoline prices from a three-year high may bring households some relief.

“The economy has slipped into a soft patch,” said Michael Feroli, chief U.S. economist with JPMorgan Chase & Co. “In the second half, we’ll do better than we’ve been doing. As economic activity picks up, the labor market will improve as well.”

The consumer confidence report runs counter to other figures on sentiment. The Thomson Reuters/University of Michigan final index of consumer sentiment increased to 74.3 in May from 69.8, and the Bloomberg Consumer Comfort Index ended a monthlong slide in the week ended May 22.