The mid-April reading of the University of Michigan’s survey of U.S. consumers showed households now expect prices to rise by 4.6 percent over the year ahead, the highest level of expected inflation since 2021.
Longer-term expectations, however, remained stable. For the fifth consecutive month, consumers expect inflation to average 2.9 percent over the next five years. Longer-term expectations have remained within a range of 2.9 percent to 3.1 percent for 20 out of the last 21 months, according to Joanne Hsu, the director of the survey.
Consumer expectations for the economy were essentially unchanged following a plunge in March. Both the assessment of current conditions and the gauge of expectations improved slightly from the prior month but remain below the year-ago level. “Sentiment is now about 3 percent below a year ago but 27 percent above the all-time low from last June. Rising sentiment for lower-income consumers was offset by declines among those with higher incomes. While consumers have noted the easing of inflation among durable goods and cars, they still expect high inflation to persist, at least in the short run. On net, consumers did not perceive material changes in the economic environment in April,” Hsu said.
Source: Financial Digest (financialdigest.net)
But the Inflation Reduction Act was passed 🤡
I’m still seeing rising food prices, and gasoline prices rising. Won’t be surprised if gas hits $5 a gallon again this summer
That’s called a recession.
Oil prices will be soaring once the Saudis reduce production. Inflation will rise.
Gas is going up too
Why bother paying taxes if I can’t even put food on the table due to high inflation. Way to go Biden🤬🤬 TRUMP2024ToSaveAmerica
Not bad enough to keep the saps from continuing to send money to Trump.
And the president is deceiving us with the improvement of the economy
Current inflation numbers are never good news. Unless they are zero and below nothing fixes the damage already done. The theft of wages is never repaid.
Biden stopped selling oil out of the strategic reserves as soon as the election was over. As fuel prices rise, so does everything else.
Progress? That’s like hitting your head with a hammer to stop thinking about the pain in your leg!
Biden’s America!
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: MarketWatch - 🏆 3. / 97 Read more »
Source: FXStreetNews - 🏆 14. / 72 Read more »
Source: FXStreetNews - 🏆 14. / 72 Read more »
Source: FXStreetNews - 🏆 14. / 72 Read more »
Source: FXStreetNews - 🏆 14. / 72 Read more »
Source: Reuters - 🏆 2. / 97 Read more »