Skip to content
Markets
Economics

US Consumer Sentiment Rises to Three-Month High on Easing Prices

  • Inflation expectations in year-ahead drop to 4.8% in August
  • University of Michigan sentiment index climbs to 58.2
A cashier assists a customer at a checkout counter at a grocery store in Salt Lake City.
A cashier assists a customer at a checkout counter at a grocery store in Salt Lake City.Photographer: George Frey/Bloomberg
Updated on

US consumer sentiment rose more than expected in August as year-ahead inflation expectations eased, suggesting Americans are growing more optimistic as gas prices continue to drop.

The University of Michigan’s final sentiment index climbed to 58.2, the highest since May, from 51.5 in July, data Friday showed. The figure beat all estimates in a Bloomberg survey of economists, which called for a median reading of 55.5.