Advertisement
Advertisement

U.S. consumers’ 1-year inflation outlook drops to 18-month low – UMich

By:
Reuters
Published: Dec 23, 2022, 18:21 UTC

(Reuters) - U.S. consumers expect price pressures to moderate notably in the next year, with a benchmark survey on Friday showing their one-year inflation outlook dropping to the lowest in 18 months in December.

People shop in a supermarket as inflation affected consumer prices in Manhattan, New York City

(Reuters) – U.S. consumers expect price pressures to moderate notably in the next year, with a benchmark survey on Friday showing their one-year inflation outlook dropping to the lowest in 18 months in December.

The University of Michigan Surveys of Consumers said the one-year inflation outlook, released alongside its bi-monthly reading of overall consumer sentiment, fell to 4.4% this month from a final reading of 4.9% in November and from a preliminary 4.6% reading two weeks ago.

That was the lowest since June 2021 and was the half-percentage-point drop in near-term inflation expectations from November was the largest since September 2020.

At the five-year horizon, the outlook moderated to 2.9% from 3.0% last month and earlier in December.

(Reporting By Dan Burns; Editing by Mark Porter)

About the Author

Reuterscontributor

Reuters, the news and media division of Thomson Reuters, is the world’s largest international multimedia news provider reaching more than one billion people every day. Reuters provides trusted business, financial, national, and international news to professionals via Thomson Reuters desktops, the world's media organizations, and directly to consumers at Reuters.com and via Reuters TV. Learn more about Thomson Reuters products:

Did you find this article useful?

Advertisement