The preliminary April reading for the University of Michigan Index of Consumer Sentiment hit 96.9 (Briefing.com consensus 97.6), down from the final reading of 98.4 for March.

The Current Economic Conditions Index increased to 114.2 from 113.3.

The Index of Consumer Expectations decreased to 85.8 from 88.8.

The one-year inflation rate expectation dipped to 2.4% from 2.5%.

The key takeaway from the report is that despite low inflation, consumers have increasingly voiced complaints about rising vehicle and home prices.