Consumers Expect Prices in Next Year to Climb by Most Since 2021 as Gas Costs Rise
- Expectations rose to 4.6% in early April from 3.6% in March
- University of Michigan sentiment index climbed to 63.5
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US near-term inflation expectations jumped in early April by the most in nearly two years amid higher gas prices, but consumer sentiment still rose.
Consumers expect prices will climb at an annual rate of 4.6% over the next year, up from 3.6% in March, according to the preliminary April reading from the University of Michigan. They see costs rising 2.9% over the next five to 10 years, holding at that level for a fifth month, data Friday showed.