U. of Michigan consumer sentiment prelim survey for August rises to 55.1 vs. 52.5 estimate

• Sentiment index 55.1 vs. est 52.5 and 51.5 last month
• Conditions 55.5 vs. an estimate of 59.0 and 58.1 last month
• Expectations 54.9 vs. an estimate of 48.4 and 47.3 last month
• 1 year inflation Inflation Inflation is defined as a quantitative measure of the rate in which the average price level of goods and services in an economy or country increases over a period of time. It is the rise in the general level of prices where a given currency effectively buys less than it did in prior periods.In terms of assessing the strength or currencies, and by extension foreign exchange, inflation or measures of it are extremely influential. Inflation stems from the overall creation of money. This money is m Inflation is defined as a quantitative measure of the rate in which the average price level of goods and services in an economy or country increases over a period of time. It is the rise in the general level of prices where a given currency effectively buys less than it did in prior periods.In terms of assessing the strength or currencies, and by extension foreign exchange, inflation or measures of it are extremely influential. Inflation stems from the overall creation of money. This money is m Read this Term 5.0% vs. last month 5.2%
• 5 year inflation 3.0% vs. 2.9%. The high watermark since 2011 is 3.1%.

A mixed result with one year inflation coming down to 5.0% from 5.2%, but the 5 year inflation gauge rose to 3.0% from 2.9%. Interestingly enough current conditions came in weaker than expected despite the lower gas prices (rents and food cost may be offsetting the lower gas price boost).

Expectations however did increase well above estimates and helped to push up the overall sentiment index for the month.

US stocks are dipping modestly with the Dow now up 0.33% and the S&P up 0.48%. The NASDAQ is up 0.68%.