A report from the University of Michigan revealed on Friday the preliminary reading for the Reuters/Michigan index of consumer sentiment rose to 96.0 in early October. That was the highest reading since July.

Economists had expected the index would decrease to 92.0 this month from September’s final reading of 93.2.

According to the report, the index of current U.S. economic conditions increased to 113.4 in October from 108.5 in the previous month. Meanwhile, the index of consumer expectations grew to 84.8 this month from 83.4 in September.

Sentiment rebounded in early October as consumers anticipated larger income gains and lower inflation during the year ahead, the report noted.