According to data from the University of Michigan, the preliminary U.S. Consumer Sentiment Index for October dropped to 46.3, below September's final reading of 48.1 and the market expectation of 47.6. The Current Economic Conditions Index fell to 44.7. Inflation expectations for the next year rose to 4.7%, and the five-year inflation expectation climbed to 3.5%, both increasing for the second consecutive month and hitting their highest levels since May. High prices and borrowing costs continue to suppress durable goods purchasing intentions, with confidence declining more significantly among low-income groups and those with smaller stock holdings. https://www.(wublock123.com)/news/university-of-michigan-october-consumer-sentiment-46-3-inflation-expectations-4-7-69813