A report released by the University of Michigan on Friday showed consumer sentiment in the U.S. has improved by slightly more than expected in the month of January.
The University of Michigan said its consumer sentiment index rose to 54.0 in January after climbing to 52.9 in December.
With the bigger than expected increase, the consumer sentiment index reached its highest level since hitting 55.1 in September.
The report said the current economic conditions index climbed to 52.4 in January from 50.4 in December, while the index of consumer expectations crept up to 55.0 in January from 54.6 in December.
On the inflation front, the University of Michigan said year-ahead inflation expectations held steady at 4.2 percent in January.
Meanwhile, the report said long-run inflation expectations rose to 3.4 percent in January from 3.2 percent in December.