Michigan Survey: Sentiment Down, Inflation Expectations Up
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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