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US Consumer Sentiment Increases Sharply at Start of 2024
US consumer sentiment surged in January from a month earlier by the most since 2005 as retreating inflation helped bolster views about the economy and household finances. The University of Michigan’s final sentiment index for the month rose 9.3 points from December to 79, according to data issued Friday. The preliminary January reading was 78.8. Americans expect prices will climb at a 2.9% rate over the next year, compared with the 3.1% in the prior month. They see costs rising 2.9% over the next five to 10 years. “After reserving judgment last fall about whether the slowdown in inflation would persist, consumers ... (full story)