US consumer confidence has risen for five consecutive months, with short-term inflation expectations rising to 2.9%.

The consumer confidence index rose for the fifth straight month to its highest level in seven months, according to Joanne Hsu, director of consumer surveys at the University of Michigan. The surge in purchasing conditions for durable goods sent the current economic conditions index soaring more than 20 percent. However, this is not a sign of economic strength, but because consumers believe that buying now can avoid future price increases. One-year inflation expectations rose to 2.9 percent this month from 2.6 percent last month, the highest in six months, but still in the 2.3 percent -3.0 percent range in the two years before the epidemic. Long-term inflation expectations fell slightly, from 3.2 percent last month to 3.1 percent this month, still slightly higher than the two-year range before the epidemic.