US Consumer Sentiment Rises Less Than Expected in February (1)

US consumer sentiment rose less than expected in February as optimism among wealthier Americans was offset by declining confidence among people who haven’t benefited from stock-market gains.

The University of Michigan’s final February sentiment index edged up to 56.6 from 56.4 in January, according to a report released Friday. The survey period includes responses from Jan. 20 to Feb. 16. The median estimate in a Bloomberg survey of economists called for a reading of 57.3.

Consumers expect prices to rise at an annual rate of 3.4% over the next year, down from 4% in January and the lowest reading in ...