The U.S. consumer confidence index fell to its lowest level in five months, but still exceeded expectations.

U.S. consumer confidence fell to its lowest level in five months due to rising prices and interest rates. The final reading of the University of Michigan Consumer Sentiment Index fell to 48 from 48.1 in September, better than the preliminary reading and higher than economists' expectations. Consumers expect prices to rise 4.7% over the next year and an average annual growth of 3.5% over the next five to ten years, both figures being the highest since May.