March 17, 2023 14:12 GMT
U.Mich Inflation Expectations Surprisingly Ease In March Prelim
- Softer consumer sentiment (63.4, -3.6pts) as both conditions and expectations ease, with sentiment down after the recent trend higher but still far above mid-2022 lows of 50.0.
- 1Y ahead inflation exp falls 0.3pps to 3.8% (cons 4.1), lowest since Apr’21
- 5Y ahead dips a tenth to 2.8% (cons 2.9), only the second month since Jul’21 that it’s fallen out of the tight 2.9-3.1% range. It starts to follow recent declines in the NY Fed’s 3Y measure and lower outright figure for the newer 5Y series.
- Keep in mind the preliminary print often sees revisions come the final release.