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US consumer confidence continues to improve in August; short-term inflation expectations fall

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WASHINGTON, Aug 26 – U.S. consumer confidence continued to improve in August and households’ short-term inflation expectations fell to their lowest level in eight months, amid falling gasoline prices, according to a survey published on Friday.

The final reading for August of the University of Michigan’s general index of consumer confidence came in at 58.2, down from 55.1 at the beginning of the month and 51.5 in July.

The survey’s one-year inflation expectations fell to an eight-month low of 4.8%, down from 5.2% in July, while the five-year inflation outlook was unchanged at 2.9. %, within the range that has prevailed during the last year.

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