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U.Mich Inflation Expectations Revised Lower, In Stable Range

US DATA
  • U.Mich consumer sentiment was stronger than expected in the final June report, leaving a smaller than first thought decline to 68.2 (cons 66.0, prelim 65.6) from the 69.1 in May.
  • Inflation expectations were revised lower:
  • 1Y inflation expectations: 3.0% (cons 3.2, prelim 3.3) in June final after 3.3% in May.
  • 5-10Y expectations: 3.0% (cons 3.1, prelim 3.1) in June after 3.0% in May.
  • The revisions see the 5-10Y figure at its third consecutive 3.0% reading, still firmly in its typical 2.9-3.1% range seen in most months since mid-2021.

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