US consumer sentiment improves in June

WASHINGTON, June 12 (Reuters) - ‌U.S. ​consumer ​sentiment improved in early June as easing gasoline prices offered households ‌some relief, though concerns about inflation lingered, ⁠a survey showed on Friday.

The University of ‌Michigan's Surveys of Consumers ‌said its Consumer Sentiment Index increased to 48.9 this month from a record ​low of 44.8 in May. Economists polled by Reuters had forecast the ⁠index climbing to 46.0.

"Lower-income consumers exhibited a particularly strong ​sentiment increase, consistent with the fact that gasoline comprises a larger share ​of their budgets," said ‌Joanne Hsu, the director of the Surveys of Consumers. "Consumers remain focused ⁠on kitchen table issues. They feel burdened by the recent escalation in inflation and ⁠worry that higher inflation could remain stubborn going ​forward, particularly in the short run."

The survey's measure of consumer expectations for inflation over the next ‌year slipped to a still-high 4.6% this month from 4.8% in ‌May. Consumers' expectations for inflation over ⁠the next five ‌years dropped to ​3.4% from 3.9% last month.

(Reporting by Lucia Mutikani; Editing by Chizu ‌Nomiyama)

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