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U.Mich Survey Confirms Mixed Fall In Inflation Expectations In June

US DATA
  • The U.Mich consumer survey didn’t move the needle in the final June release, with sentiment revised up marginally from 63.9 to 64.4 and confirming an improvement from 59.2 in May. It’s the highest since Feb’23.
  • "This striking upswing reflects a recovery in attitudes generated by the early-month resolution of the debt ceiling crisis, along with more positive feelings over softening inflation."

Inflation expectations:

  • 1Y confirmed at 3.3%, down from 4.2%.
  • 5Y confirmed at 3.0%, down from 3.1% in May at what had been the highest since Jun’22 and the top of the 2.9-3.1% seen in every month but one since Jul’21.

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