Consumer sentiment in the country improved for the first time in five months in December on the back of hints that rate hikes by the U.S. Federal Reserve have ended.

According to the Bank of Korea on Wednesday, the composite consumer sentiment index rose two-point-three points on-month to stand at 99-point-five in December, still below the 100-point threshold to indicate that pessimists outnumber optimists.

However, the uptick reverses a four-month downward streak that began in August, with a BOK official attributing the improvement to a slowdown in rising interest rates amid hopes for an end to the Fed’s hikes.

Expected inflation for the year ahead marked three-point-two percent in December, down zero-point-two percentage points from the previous month to post the lowest in 20 months since April last year, when it marked three-point-one percent.

The drop is attributed to an increased fall in the prices of petroleum products due to a decline in global oil prices.