US short-term inflation expectations fell in early June to a more than two-year low, helping drive consumer sentiment higher. Americans expect prices will climb at an annual rate of 3.3% over the next year, down from the 4.2% expected in May, according to the preliminary June reading from the University of Michigan. The sentiment index increased to a four-month high of 63.9, also helped by an agreement to resolve the debt-ceiling crisis, the report showed Friday. The median estimate in a Bloomberg survey of economists called for a reading of 60. Despite the increase in sentiment, Americans grew more concerned about ... (full story)