Economic Buzz: US consumer sentiment unchanged in October

A report released by the University of Michigan on Friday showed its reading on U.S. consumer sentiment was virtually unchanged in the month of October.

The University of Michigan said its consumer sentiment index edged down to 55.0 in October from 55.1 in September. Economists had expected the index to slip to 54.2.

The report said the current economic conditions index crept up to 61.0 in October from 60.4 in September, while the index of consumer expectations slipped to 51.2 in October from 51.7 in September.

On the inflation front, the University of Michigan said year-ahead inflation expectations ebbed to 4.6 percent in October from 4.7 percent in September. Long-run inflation expectations held steady at 3.7 percent.

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