Consumer sentiment rises above expectations in January but remains below last year's level

Consumer sentiment ticked higher in early January despite lingering concerns about inflation and a weak labor market, according to the latest release from the University of Michigan's Surveys of Consumers.

Michigan's Consumer Sentiment Index rose to 54 in January's preliminary reading from a final reading of 52.9 in December. 

That was a larger increase than what was expected by economists polled by LSEG, who anticipated the January figure would come in at 53.5. However, January's...