Consumer fears over inflation tumbled in December amid declining energy prices and as the impact of interest rate hikes take hold. In the latest University of Michigan consumer sentiment survey released Friday, the one-year outlook for the inflation rate slid to 3.1%, down sharply from 4.5% in November and the lowest since March 2021. The five-year outlook also moved lower, down to 2.8% from 3.2% the previous month. Federal Reserve officials consider consumer expectations a key in the way inflation moves, so the switch in sentiment could further convince policymakers to keep interest rates on hold and possibly start ... (full story)