U.S. near-term inflation expectations jumped in early April by the most in nearly two years, a troubling signal that the recent progress on taming inflation may be short-lived.
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.
Argentina Últimas Noticias, Argentina Titulares
Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.
Consumer sentiment creeps higher, but Americans are more worried about inflationA survey of consumer sentiment rose slightly in April and rebounded from a four-month low, but Americans showed more anxiety about high inflation.
Leer más »
AUD/USD faces upside risks in the near term – UOBIn the opinion of Markets Strategist Quek Ser Leang and Senior FX Strategist Peter Chia at UOB Group, AUD/USD could extend the current advance to the
Leer más »
USD/JPY now faces some near-term consolidation – UOBUSD/JPY is likely to navigate within the 131.20-133.70 range in the next weeks, note Markets Strategist Quek Ser Leang and Senior FX Strategist Peter
Leer más »
EUR/USD Price Analysis: Outlook keeps pointing to extra gains near termEUR/USD deflates from earlier 2023 highs around 1.1075 at the end of the week. Despite the knee-jerk, the pair’s outlook keeps favouring the continuat
Leer más »
EUR/USD grinds near one-year high near 1.1050, US Retail Sales, Michigan CSI eyedEUR/USD rose to the highest level since March 2022 during a three-day winning streak to 1.1067, before bulls caught a breather around 1.1050, making r
Leer más »
Brands look to China's tropical duty free island paradise for consumer comebackRepresentatives of over 3,000 brands including Burberry and Estee Lauder descended on China's Hainan this week to show off their latest wares, hoping to cash in on a post-COVID consumer rebound that has kicked off on the island known for its duty free shopping.
Leer más »