Inflation & Prices
US Year-Ahead Inflation Views Rise for First Time Since March
- Price expectations for next 12 months increase to 5.1%
- University of Michigan sentiment index highest since April
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US year-ahead inflation expectations rose in early October for the first time in seven months and the long-term outlook also crept up, a potentially worrisome development for the Federal Reserve as it tries to keep views anchored.
Consumers expect prices will climb 5.1% over the next year, up from 4.7% in September, according to a survey from the University of Michigan. They see costs rising at an annual rate of 2.9% over the next five to 10 years, a pickup from 2.7%, data Friday showed.