(RTTNews) - Consumer sentiment in the U.S. has seen a modest improvement in September after falling sharply in August, according to a preliminary report released by the University of Michigan on Friday. The modest increase came after the consumer sentiment index tumbled to its lowest level since December of 2011 in the previous month. "Consumers have initially reacted by viewing the rise in inflation as transitory, believing that prices will stabilize or could even fall in the future," Curtin said.