US consumer confidence has rebounded slightly, but high prices remain a major concern.

A preliminary survey by the University of Michigan shows that the U.S. consumer confidence index has risen slightly by about 6%. Expectations for personal finances and the business environment have improved, but confidence among high-wealth consumers holding large amounts of stock has declined by 5%. About 57% of respondents believe that high prices are eroding their standard of living, the highest percentage since May of this year. The survey was conducted between October 20 and November 2. Inflation expectations for the next year fell to 4.3% from 4.7% last month, while long-term inflation expectations fell to 3.4% from 3.5%.