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US DATA: 5-10Y Consumer Inflation Expectations Trimmed But Still Elevated

US DATA
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U.Mich long-run inflation expectations were indeed trimmed in the final January release from what had been a particularly sharp increase to the highest since 2008. 3.2% is still elevated though, having twice in the past three months exceeded what had been a typical 2.9-3.1% range since mid-2021. 

  • 1Y: 3.3% (cons 3.2, prelim 3.3) in Jan after 2.8% in Dec, confirmed at the highest since May.
  • 5-10Y: 3.2% (cons 3.2, prelim 3.3) in Jan after 3.0% in Dec
  • Elsewhere within the report, consumer sentiment was revised down to 71.1 (prelim 73.2) from 74.0 in December. It's only a little above pre-election result levels of 70.1 in September and equally a little under the 72.5 averaged in 2024.
  • “While assessments of personal finances inched up for the fifth consecutive month, all other index components pulled back. Indeed, sentiment declines were broad based and seen across incomes, wealth, and age groups.”
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U.Mich long-run inflation expectations were indeed trimmed in the final January release from what had been a particularly sharp increase to the highest since 2008. 3.2% is still elevated though, having twice in the past three months exceeded what had been a typical 2.9-3.1% range since mid-2021. 

  • 1Y: 3.3% (cons 3.2, prelim 3.3) in Jan after 2.8% in Dec, confirmed at the highest since May.
  • 5-10Y: 3.2% (cons 3.2, prelim 3.3) in Jan after 3.0% in Dec
  • Elsewhere within the report, consumer sentiment was revised down to 71.1 (prelim 73.2) from 74.0 in December. It's only a little above pre-election result levels of 70.1 in September and equally a little under the 72.5 averaged in 2024.
  • “While assessments of personal finances inched up for the fifth consecutive month, all other index components pulled back. Indeed, sentiment declines were broad based and seen across incomes, wealth, and age groups.”
image