U.S. consumer sentiment falls in November; inflation expectations rise

WASHINGTON (Reuters) – U.S. consumer sentiment fell in November, pulled down by persistent worries about inflation and higher borrowing costs, a survey showed on Friday.

The University of Michigan’s preliminary November reading on the overall index on consumer sentiment came in at 54.7, down from 59.9 in the prior month. Economists polled by Reuters had forecast a preliminary reading of 59.5.

The survey’s reading of one-year inflation expectations edged up to 5.1% from 5.0% in October. The survey’s five-year inflation outlook rose to 3.0% from 2.9% in October.

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