US consumer sentiment continued to rise in late September, reaching a five-month high on more optimism about the economy in the wake of the Federal Reserve’s interest-rate cut.

Key Takeaways The Michigan Consumer Sentiment Index increased to finish September at 70.1, its highest level since April.Inflation expectations fell again as the survey showed that consumers were noticing the slow down in the inflation rate.

Slowing inflation and the first interest-rate reduction by the Federal Reserve in four years gave Americans a little more confidence in the economy, but the outcome of the presidential election also weighed on their minds.