US consumer sentiment unexpectedly fell for the first time since April and inflation expectations rose on lingering anxiety about the impact of tariffs. The preliminary August sentiment index fell to 58.6 from 61.7 a month earlier, according to data from the University of Michigan released Friday. Consumers expect prices to rise at an annual rate of 4.9% over the next year, wiping out the prior month’s improvement. They saw costs rising at an annual rate of 3.9% over the next five to 10 years. Both the sentiment index and the inflation gauges were worse than economists had anticipated in a Bloomberg survey. ... (full story)