US Consumers Tempered Inflation Expectations in Late May
- Year-ahead price expectations at 3.3% vs 3.5% in early May
- University of Michigan final May sentiment index at 69.1
This article is for subscribers only.
US consumers tempered their inflation expectations in the second half of May compared with earlier in the month, though high prices continued to weigh on sentiment.
Consumers expect prices will climb at a 3.3% annual rate over the next year, down from the 3.5% that was expected earlier in the month, University of Michigan data showed Friday. In April, respondents expected year-ahead inflation of 3.2%.