Consumers still don’t feel great about economy

(CNN) - Americans still aren't feeling great about the economy.

A new survey from the University of Michigan shows the nation's collective outlook actually rose a bit this month. It registered at 55.1, up from 51.5 in July.

But when you drill down to how people feel about current economic conditions, that number dropped from 58.1 last month to 55.5. Analysts believe much of that is a "Hangover" effect from high gas prices.

And even though prices at the pump have been coming down in recent weeks… Being constantly reminded of high gas prices has left many people feeling squeezed. Almost half of all Americans say inflation has eroded their living standards.