Americans are growing optimistic about inflation

With inflation continuing to slow, US consumers are taking notice — and they’re feeling more optimistic.

Consumer sentiment tracked by the University of Michigan improved in June, according to a final reading, up 9% from May. That was due to inflation’s steady retreat in recent months and consumers feeling more cheery about the economy’s future. Consumers’ economic outlook for the year ahead jumped 28% over last month.

“Overall, this striking upswing reflects a recovery in attitudes generated by the early-month resolution of the debt ceiling crisis, along with more positive feelings over softening inflation,” said Joanne Hsu, director of the university’s Surveys of Consumers, in a release Friday.