(RTTNews) - Consumer confidence in the U.S. pulled back by less than expected in the month of January, according to a report released by the Conference Board on Tuesday. Meanwhile, the report showed the present situation index climbed to 148.2 in January from 144.8 in December, reflecting a more favorable appraisal of current business conditions. "Concerns about inflation declined for the second straight month, but remain elevated after hitting a 13-year high in November 2021," said Lynn Franco, Senior Director of Economic Indicators at The Conference Board.