sentiment among us consumers improved somewhat in early february posting a third consecutive monthly increase but remained subdued as concerns over high inflation and the effects of a slowing economy on the job market persisted the university of michigan said friday that its preliminary index of consumer sentiment increased to 664 in february from 649 in january beating the 651 consensus forecast from economists in a poll by the wall street journal februarys improvement was driven by better views on current economic conditions with the index gauging them increasing to 726 from 684 the prior month however the measure assessing shortterm expectations fell slightly to 623 from 627 the data if confirmed in late february shows us consumer sentiment improved for a third consecutive month reaching its highest level in more than a year still sentiment remains low according to historical standards high prices continue to weigh on consumers despite the recent moderation in inflation and sentiment remains more than 22 below its historical average since 1978 said joanne hsu the surveys director combined with concerns over rising unemployment on the horizon consumers are poised to exercise greater caution with their spending in the months ahead she said consumers shortterm inflation expectations edged up in february according to the survey americans expect prices to increase 42 for the next year accelerating from the 39 rise they anticipated in january however inflation expectations for the next five yearsa closely watched indicator for federal reserves officialswere unchanged at 29 for a third consecutive month the surveys final data for the month will be published on feb 24