Consumer sentiment in July reached its highest level in nearly two years even as inflation expectations inched up.
The University of Michigan’s index of consumer sentiment rose for the second straight month, increasing 13% over June to a preliminary July reading of 72.6. It was the highest level since September 2021.
All components of the index improved significantly in July. Consumers’ view of current economic conditions rose to 77.5, up from 69.0 in June. The expectations index rose to 69.4, up from 61.5 in June.Chain Store Age