July consumer sentiment dipped 0.3 points to 97.9, still at high levels

Consumer sentiment posted a trivial 0.3 point one-month decline in July, remaining a half of an Index-point or less from the average in the prior twelve months (97.7) or since the start of 2017 (97.4). Despite the expectation of higher inflation and higher interest rates during the year ahead, consumers have kept their confidence at high levels due to favorable job and income prospects.

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