Inflation & Prices
US Long-Term Inflation Expectations Retreat From 12-Year High
- Five to 10-year price views edged down to 3.1% from early May
- Consumer sentiment fell from April amid debt-ceiling impasse
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US long-term inflation expectations retreated in May from earlier in the month, but consumer sentiment remained lower amid the debt-ceiling drama.
Consumers expect prices will climb at an annual rate of 3.1% over the next five to 10 years, down slightly from the 3.2% expected earlier in the month, which was a 12-year high. They see costs rising 4.2% in the next 12 months, compared to the preliminary reading of 4.5%, according to the final May reading from the University of Michigan.