Concern over the rising costs of food and oil did little to dampen consumer confidence in February, Bloomberg reported.

Confidence among U.S. consumers rose to a three-month high, according to a Thomson Reuters/University of Michigan sentiment survey released today. The final index of sentiment climbed to 77.5 from 74.2 in January, exceeding economists’ expectations.

Though the economy grew less in the fourth quarter than previously estimated, according to Commerce Department data, the survey showed that households this month were more focused on positive economic news as the unemployment rate fell.

“We’ve clearly seen a bounce in the confidence numbers coincide with the gains in financial markets and the pickup in the economy, particularly the improving labor market,” said Jim O’Sullivan, global chief economist at New York-based MF Global Inc. “It was a bit of a surprise given the geopolitical tensions.”

The Standard & Poor’s 500 index rose 0.9 percent to 1,317.51 at 10:12 a.m., following the release of the report. Treasury securities showed little change.

Last week, the Bloomberg Consumer Comfort Index rose to the highest level since April 2008, as Americans were more optimistic about their financial situations.

The U.S. unemployment rate unexpectedly fell to 9 percent in January as employers added a paltry 36,000 jobs. Consumer spending accounts for nearly two-thirds of the economy.