Michigan Survey: Sentiment Down, Inflation Expectations Up

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Preliminary readings for August. Not particularly good.

(Click on image to enlarge)

Figure 1: One year ahead CPI inflation expectations, % (blue, left scale), Consumer Sentiment (red, right scale). Dashed line at “Liberation Day”. Source: U.Michigan.

5 year inflation expectations at 3.9% were up from 3.4%, and above the consensus 3.4%…

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