(Reuters) – U.S. consumer sentiment declined in July as consumers cited inflation as a concern, a survey released on Friday showed.
The University of Michigan’s Consumer Sentiment Index fell to a final reading of 81.2 from June’s final level of 85.5, though it was above July’s preliminary reading of 80.8. That was above the median forecast of 80.8 among economists polled by Reuters.
July’s preliminary reading was the lowest level in five months as inflation worries dented consumers’ confidence in the economic recovery.
(Reporting by Evan Sully)
