Inflation expectations in the US were revised up in November, according to the University of Michigan’s consumer survey final results released.
Year-ahead inflation expectations increased to 4.5% in November, recording the highest reading since April 2023, and revised up from the 4.4% level in the preliminary results released two weeks ago.
The figure showed gains from October’s 4.2% level and September’s 3.2% reading.
Long-run inflation expectations also rose, from 3.0% last month to 3.2% this month, and marked the highest reading since 2011. “These expectations have risen in spite of the fact that consumers have taken note of the continued slowdown in inflation.—AA
