The final reading of the index of consumer sentiment compiled by the University of Michigan was 71.7 in October, up from the mid-month flash estimate of 71.4 but below the 72.8 reading in September, data released Friday showed. U.S. consumer sentiment is well below the 101.0 level registered before the pandemic in February 2020. The index gauging Americans' assessment of the current economic conditions decreased to 77.7 in October from 80.1 in September. In October, consumers anticipated the highest year-ahead inflation rate since 2008 at 4.8%, Mr. Curtin said. Respondents in the survey also expressed greater uncertainty about the year-ahead inflation rate than anytime in nearly forty years, he said.

Source: Wall Street Journal October 29, 2021 14:32 UTC