By Ovunc Kutlu
ISTANBUL (AA) - US inflation expectations in December dove to their lowest level in 18 months, according to a survey released Friday.
"Year-ahead inflation expectations improved considerably but remained elevated, falling from 4.9% in November to 4.4% in December, the lowest reading in 18 months but still well above two years ago," according to the University of Michigan's consumer survey final results.
The index of consumer sentiment rose 2.9 points to 59.7 in December, from 56.8 in November.
"Sentiment remains relatively downbeat at 15% below a year ago, but consumers’ extremely negative attitudes have softened this month on the basis of easing pressures from inflation," Surveys of Consumers Director Joanne Hsu said in a statement.
The index of current economic conditions increased 0.6 points to 59.4 in December, from 58.8 in November, while the index of consumer expectations jumped 4.3 points to 59.9, from 55.6, during that period.