A measure of Americans’ short-term expectations for income, business conditions and the job market fell to 73.4, remaining well below 80 — the marker that can signal a recession ahead. Government data released earlier this month showed that inflation rose in August as the price of gas, groceries and airfares jumped. Excluding the volatile food and energy categories, core prices rose 3.1%, unchanged from July. Many companies are locked in a “no hire, no fire” position, fearful of expanding payrolls until the effects of Trump’s tariffs are clearer. More jobs data comes Friday when the government releases its September labour market report, with analysts forecasting 50,000 job gains.