US consumer sentiment rose to a preliminary 54.4 in July as gas prices eased

54.4. That is the University of Michigan's preliminary index of consumer sentiment for July, up from 49.5 in June and the highest reading since February. The rise was 9.9 percent, the second straight monthly jump of about 10 percent, and it was broad: all five components improved, led by increases of roughly 20 percent in buying conditions for durable goods and in year-ahead business conditions. Current conditions rose to 54.9 from 47.7. Expectations rose to 54.0 from 50.7. Joanne Hsu, who directs the surveys, attributed the gain to easing prices at the pump. Sentiment is still down 11.8 percent from July 2025. Year-ahead inflation expectations eased to 4.2 percent from 4.6 percent, and long-run expectations held at 3.3 percent, both above their 2024 ranges. Interviews ran from June 23 to July 13, and more than 70 percent were completed before US strikes on Iran resumed on July 7 and gasoline prices began to rise. The final July reading is due July 31. Figures are from the University of Michigan Surveys of Consumers.