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Economics
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.

Tomatoes for sale at the Eastern Market in Detroit, Michigan.

Photographer: Matthew Hatcher/Bloomberg
Updated on

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%.