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Inflation expectations in the US have fallen to their lowest level in 15 months

A survey showed US consumer confidence improved in December on recent stock market gains, while inflation expectations fell to a 15-month low.

The preliminary reading of the University of Michigan survey has arrived for the general consumer confidence index for December to 59.1, up from 56.8 in the previous month.

Economists polled by Reuters had expected a preliminary reading of 56.9.

The survey reading of one-year inflation expectations fell to 4.6%, the lowest reading in 15 months, from 4.9% in November.

The five-year inflation forecast remained unchanged at 3.0% in November.

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