US Consumer Sentiment Rises 6% in Early November, but 57% Cite High Prices Eroding Living Standards

Cointime reports: The University of Michigan’s preliminary November survey showed US consumer sentiment rising about 6%, with improvement concentrated among independent voters. Roughly 57% of respondents volunteered that high prices have eroded their living standards, the highest since May, while wealthier consumers holding large stock portfolios grew 5% less confident after recent market swings. Year-ahead inflation expectations fell to 4.3% from 4.7%, and long-run expectations edged down to 3.4% from 3.5%.