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U.Mich Inflation Expectations Broadly Confirm Feb Flash

US DATA
  • U.Mich inflation expectations were only marginally revised in the final February print, with the bounce in the 1Y trimmed to 0.2pps to 4.1% (initially 4.2%).
  • More importantly, the 5-10Y measure was unchanged at 2.9%, keeping to the 2.9-3.1% range it’s been in for all but one month since July 2021.
  • The release doesn’t move the needle: it confirms a picture of a pause in the decline in short-term inflation expectations with still relatively sticky but not wildly concerning perceptions of long-term inflation.

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