Consumer sentiment deteriorated near the end of April, according to the latest reading from the University of Michigan. The final reading of the sentiment survey dropped to 77.2 from 77.9 in early April, the University of Michigan said Friday. Sentiment had hit 79.4 in March, a 32-month high. Economists surveyed by The Wall Street Journal had forecast an unchanged final reading of 77.9. According to the survey, Americans think inflation will average 3.2 in the next year. That’s the highest rate since last November. (full story)