Inflation & Prices
US Consumer Inflation Expectations Rise in Michigan Survey
- Year-ahead expectations increased to 5.1% in November
- University of Michigan sentiment falls to four-month low
Tomatoes for sale at the Eastern Market in Detroit, Michigan.
Photographer: Matthew Hatcher/BloombergThis article is for subscribers only.
US consumer inflation expectations in the short and long run increased in early November, while sentiment retreated to a four-month low amid rising borrowing costs.
Consumers expect prices will climb at an annual rate of 3% over the next five to 10 years, up from 2.9% in October and the highest in five months, the University of Michigan’s preliminary November survey showed Friday. They see costs rising 5.1% over the next year, compared to last month’s 5%.