Consumer sentiment rises more than expected in August, but it's still pretty low

Olivier Verriest/iStock via Getty Images

• August University of Michigan Consumer Sentiment: 55.1 vs. 52.5 expected and 51.5 prior. The latest reading compares with the all-time low of 50.0 reached in June.
• Expectations: 54.9 vs. 48.4 expected and 47.3 prior.
• Current conditions: 55.5 vs 59.0 expected and 58.1 prior.
• Inflation expectations (next year): +5.0% vs. +5.2% prior.
• For the longer term, consumers surveyed expect inflation over the next five years of 3.0%, up at tick from the 2.9% they expected in July.
• "All components of the expectations index improved this month, particularly among low and middle income consumers for whom inflation is particularly salient," said Survey of Consumers Director Joanne Hsu.
• "With continued declines in energy prices, the median expected year-ahead inflation rate fell to 5.0%, its lowest reading since February but still well above the 4.6% reading from a year ago," she said.
• On Thursday, producer price inflation unexpectedly fell in July M/M and rose less than expected Y/Y