Americans Expect Inflation to Go Higher, Economy to Get Worse: University of Michigan Poll

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Americans Expect Inflation to Go Higher, Economy to Get Worse: University of Michigan Poll

U.S. citizens are expecting prices to keep rising and are worried about the economy deteriorating further, according to the latest Surveys of Consumers by the University of Michigan.
The median expected year-ahead inflation rose to 5.1 percent in October from 4.7 percent in September, according to the preliminary survey results report. The view that inflation would rise was consistent across income, age, and education groups.
In September, long-run inflation expectations had fallen between the 2.9 percent and 3.1 percent range for the first time since July 2021. However, expectations returned to that range in October at 2.9 percent. Short- and long-run expectations regarding gas prices also rebounded....

Source: Americans Expect Inflation to Go Higher, Economy to Get Worse: University of Michigan Poll

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