The U.S. consumer confidence index climbed to its highest level in seven months in November, boosted by Americans' optimism about the future of the economy and finances. The University of Michigan's preliminary November consumer confidence index rose to 73, above expectations of 71. The expectations index surged to 78.5, the highest since mid-2021. The upbeat outlook also reflects Americans' expectations of slower inflation. Consumers expect prices to rise 2.6 percent next year, the lowest since 2020. However, inflation expectations for the next five to 10 years rose to 3.1 percent. The survey was conducted from October 22 to November 4. Survey director Joanne Hsu said: "Consumers have been saying that the future of the economy depends on who wins the presidential election. Looking ahead, the impact of the next administration's economic policies on inflation is likely to become a top concern for consumers and drive the trajectory of their confidence in the economy's performance. "The personal financial expectations index rose to its highest level since March, in part due to improved personal financial conditions. Confidence in long-term business conditions jumped to a near four-year high.