WASHINGTON, Oct 13 Reuters U.S. consumer sentiment fell sharply in October as households anticipated higher inflation over the next year, a survey showed on Friday.

The University of Michigan39;s preliminary reading on the overall index of consumer sentiment came in at 63.0 this month compared to 68.1 in September. Economists polled by Reuters had forecast a preliminary reading of 67.2.

Nearly all demographic groups posted setbacks in sentiment, reflecting the continued weight of high prices, Joanne Hsu, the director of the University of Michigan39;s Surveys of Consumers, said in a statement.

The survey39;s reading of oneyear inflation expectations increased to 3.8 this month from 3.2 in September.

The fiveyear inflation outlook rose to 3.0 from 2.8 in the prior month, staying within the narrow 2.93.1 range for 25 of the last 27 months.

Reporting By Lucia Mutikani; Editing by Chizu Nomiyama

Source Reuters