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Rising Prices Did Not Hurt Consumer Sentiment

“U.S. consumer sentiment rose in April as the sharp increase in gasoline prices was viewed as being temporary, a survey released Friday showed.

Even so, consumers still anticipated some additional price increases in the coming months, the Thomson Reuters/University of Michigan’s consumer sentiment survey showed. Complaints about high prices were the most frequent since 2008 and half of all households said their finances had worsened.

Small expected wage gains tempered higher fuel and food prices, leaving real income expectations unchanged in April.

The final reading on the overall index came in at 69.8, up from 67.5 in March and up a hair from the preliminary reading of 69.6.

It was roughly inline with the median forecast of 69.9 among economists polled by Reuters.

The survey’s barometer of current economic conditions held steady with March’s reading of 82.5, while the survey’s gauge of consumer expectations rose to 61.6 from 57.9.”

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