US short-term inflation expectations fell in early March to the lowest level in nearly two years and long-run views also eased, but consumer sentiment still fell due to persistently high prices. Respondents said they expect inflation to rise 3.8% over the next year, the lowest reading since April 2021, according to the University of Michigan’s preliminary reading. They expect prices to advance 2.8% over the next five to ten years, the lowest in six months. The group’s sentiment index declined to 63.4 in early March from 67 in February, the biggest drop since June, data released Friday showed. The median estimate in a ... (full story)