-
US Consumer Inflation Expectations Jump to a Five-Month High
US consumers’ year-ahead inflation expectations rose sharply in early October, driving a steep deterioration in Americans’ views of their finances as well as sentiment. Americans expect prices will climb at a 3.8% rate over the next year, the highest in five months and up from the 3.2% expected in September, according to the preliminary October reading from the University of Michigan. They see costs rising 3% over the next five to 10 years, compared to last month’s 2.8%. The sentiment index slid more than 5 points in October to 63, the sharpest monthly decline since June of last year. The figure fell short of ... (full story)