Federal Reserve Financial Accounts of the United States

US Consumer Sentiment Rises to 69.0, a Four-Month High, as Inflation Eases

Sep 13, 2024, 02:41 PM

US consumer sentiment has risen to a four-month high in early September, reaching 69.0, according to the University of Michigan Survey of Consumers. This increase is attributed to easing short-term inflation expectations, which have fallen to their lowest level since the end of 2020. Additionally, retail gasoline prices are at their lowest since February, and 30-year mortgage rates are at their lowest since February 2023. The S&P 500 is approximately 1% from its all-time highs, and US household net worth in Q2 has reached an all-time high. Despite this improvement, consumer sentiment remains significantly lower than its historical average of 84.8 and is still below early 2020 and 2021 levels.