US Consumer Sentiment Unexpectedly Rises to a Six-Month High (1)

US consumer sentiment unexpectedly improved to the highest in six months, largely propelled by wealthier Americans who have benefited from stock-market gains.

The preliminary February sentiment index increased to 57.3 from 56.4 in January, according to the University of Michigan. The survey period includes responses from Jan. 20 to Feb. 2. The median estimate in a Bloomberg survey of economists called for a reading of 55.

The report also showed consumers grew more sanguine about the short-term inflation outlook. They expect prices to rise an annualized 3.5% over the next 12 months, the lowest in a year, data Friday ...