A slight weakening in consumer sentiment was recorded for July, according to data released Tuesday by the Conference Board. The public remains concerned about inflationary pressures, and pessimism regarding the outlook for the job market has intensified.

The Conference Board's monthly Consumer Confidence Index edged down to 90.8 points. The June figure was revised upward to 92.2 points. This month's reading not only declined month-over-month but also fell short of the market consensus estimate of 92.0 points, as compiled by Dow Jones.

The survey period coincided with rising tensions in the Middle East and a surge in oil prices. While the report noted that the frequency of respondents mentioning spending on gasoline and oil has decreased, the related cost pressures remain elevated.

A closely watched sub-index on employment reflected deepening consumer anxiety. The proportion of respondents who said jobs are plentiful fell to 24.6% from 25.5%. Meanwhile, the share of those stating jobs are hard to get edged down to 21.5%, a slight decrease of 0.2 percentage points from June.