US consumer sentiment improves further in August; near-term inflation expectations fall

US consumer sentiment improved further in August and households’ near-term inflation expectations fell to an eight-month low amid declining petrol prices, a survey released on Friday (Aug 26) showed.

The University of Michigan’s final August reading on the overall index on consumer sentiment came in at 58.2, up from 55.1 earlier this month and 51.5 in July.

The survey’s one-year inflation expectations fell to an eight-month low of 4.8 per cent from 5.2 per cent in July, while the survey’s five-year inflation outlook was unchanged at 2.9 per cent, holding within the range that has prevailed for the past year. REUTERS