The University of Michigan’s final July consumer sentiment index reading was 61.2 compared to the preliminary July 56.6 reading, the final June 56.4 reading, 56.7 earlier in June, and 59.8 in May, according to market sources.

Economists polled by IFR Markets had predicted a 56.4 reading for the index.

The expectations index was 53.5 compared to 48.3 earlier in the month, 49.2 last month, 49.0 at mid-June, and 51.1 in May.

The current conditions index was 73.1 compared to 69.5 earlier this month, 67.6 last month, 68.7 earlier in June, and 73.3 in May.

The five-year inflation expectation index was 3.2% in July compared to 3.4% earlier in July, 3.4% last month, and 3.4% in May, while the one-year inflation expectation index was 5.1% in July, 5.3% earlier in July, 5.1% in June, and 5.2% in May.

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