the drop in the confidence late in the summer will have to back off that call.”

The consumer confidence index increased to a reading of 113.8 this month from 109.8 in September, ending three straight monthly declines. The measure, which places more emphasis on the labor market, remains below its peak of 128.9 in June. The rise was in contrast with the University of Michigan’s survey of consumers, which showed sentiment ebbing early this month.

Economists polled by Reuters had forecast that the index would dip to 108.3. The Conference Board’s so-called labor market differential, derived from data on respondents’ views on whether jobs are plentiful or hard to get, raced to a reading of 45 this month, the highest in 21 years, from 43.5 in September.

This measure closely correlates to the unemployment rate in the Labor Department’s closely watched employment report. There were 10.4 million job openings at the end of August.

Consumers’ inflation expectations over the next 12 months jumped to 7.0%, the highest in 13 years, from 6.5% last month.