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MNI INTERVIEW: Easing Price Expectations Little Comfort-UMich

(MNI) WASHINGTON

University of Michigan's Joanne Hsu says it is too early to tell whether inflation expectations have peaked.

Consumer expectations for inflation have shown tentative signs they may turned down but the easing provides little comfort since the moves are from volatile energy prices, the head of the University of Michigan's Survey of Consumers told MNI.

The University of Michigan survey's inflation expectation measures declined in the preliminary September report with the median expected year-ahead inflation rate moving down to 4.6%, the lowest reading since last September, and the median long run inflation expectation rate easing to 2.8%, the first time since July 2021 below the 2.9%-3.1% range.

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Consumer expectations for inflation have shown tentative signs they may turned down but the easing provides little comfort since the moves are from volatile energy prices, the head of the University of Michigan's Survey of Consumers told MNI.

The University of Michigan survey's inflation expectation measures declined in the preliminary September report with the median expected year-ahead inflation rate moving down to 4.6%, the lowest reading since last September, and the median long run inflation expectation rate easing to 2.8%, the first time since July 2021 below the 2.9%-3.1% range.

Keep reading...Show less