US Consumer Inflation Expectations Jump to Highest Since 2008
- Long-term inflation views rose to 3.3% in Michigan survey
- Preliminary January consumer sentiment index eased to 73.2
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US consumers’ long-term inflation expectations jumped to the highest since 2008 on concerns about potential tariffs from the incoming Trump administration.
Americans expect prices will climb at an annual rate of 3.3% over the next five to 10 years, up from the 3% expected last month, according to the University of Michigan’s preliminary January survey released Friday. They also see costs rising 3.3% over the next year, up 0.5 percentage point from December.