The University of Michigan's final consumer sentiment index for July reached 55.2, surpassing the median estimate of 54 from economists.

This final figure for July marks an improvement from the preliminary reading of 54.4 and a significant jump from the previous month's final result of 49.5. The index came in above the entire range of analyst forecasts, which spanned from a low of 52 to a high of 55.

The sub-index tracking current economic conditions settled at 54.8, slightly down from the initial July reading of 54.9 but notably higher than the prior month's 47.7. Meanwhile, the expectations index, which gauges consumer outlook for the future, was reported at 55.4, up from its preliminary July figure of 54 and the previous month's 50.7.

Regarding inflation expectations, consumers predict that prices will rise by a median of 4.2% over the next year, a figure unchanged from the initial July estimate and a decrease from the 4.6% forecast in the prior month. For the longer-term horizon of five to ten years, the median expected annual price change remained steady at 3.3%, matching both the preliminary July reading and the previous month's result.