US consumers’ year-ahead inflation expectations picked up in August to a three-month high as gasoline prices increased, weighing on sentiment.
Consumers expect prices will climb at an annual rate of 3.5% over the next year, up from the 3.4% expected in July, according to the final August reading from the University of Michigan. They see costs rising 3% over the next five to 10 years, matching the prior two months, data Friday showed.
“While consumers noted that inflation is nowhere near the peaks from last summer, their views continue to be influenced by high prices,” Joanne Hsu, director of the survey, said in a statement. Moreover, the smallest share of respondents since October 2021 said they expect inflation to exceed their income growth in the year ahead. Combined with still-solid views of the job market, that signals a possible increase in optimism about future business conditions.
France Dernières Nouvelles, France Actualités
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