Consumer Inflation Expectations in the U.S.

Consumer expectations for inflation surged in early February, with Americans expecting prices to rise by 4.3 percent over the next year. The University of Michigan's survey shows a significant increase in inflation expectations, driven largely by Democrats.

Consumer Inflation Expectations

Consumers grew more confident in July that inflation will be less of a problem in the coming years, with the three-year inflation outlook at a new low. The survey showed respondents expect inflation to stay elevated over the next year but then recede in the following years. The medium-term inflation expectations improved, with gas and food price increases expected to be lower than in previous months.