A survey of consumer sentiment hung close a two-year high in August, but Americans expressed more worries about the future of the economy.

The final reading of the sentiment survey in August slipped to 69.5 from a preliminary 71.2, the University of Michigan said Friday. The index hit a 22-month high in July.

The consumer-sentiment survey reveals how consumers feel about their own finances as well as the broader economy.

Key details: A gauge that measures what consumers think about the current state of the economy registered 75.7 at the end of August vs. an initial 77.4

A measure that asks about expectations for the next six months dropped to 65.5 from an initial 67.3 in early August and 68.3 in July.

Americans think inflation will average 3.5% in the next year, a few ticks higher compared to several months ago.

The official rate of inflation is 3.2%, using the consumer price index, though other measures suggest prices are rising somewhat faster.

Big picture: Steady economic growth, ultra-low unemployment and slowing inflation have made Americans less worried about a recession.

Source: Marketwatch