US Consumer Inflation Expectations and Economic Worries Reach New Highs
US consumer long-term inflation expectations have hit a 12-year high, with five- to 10-year inflation views rising to 3.2% in early May, according to the University of Michigan. Meanwhile, consumer sentiment has fallen to a six-month low, reflecting growing concerns about the economic outlook. Consumers anticipate costs rising 4.5% over the next year, compared to last month’s 4.6%.