Medium-term inflation expectations picked up in preliminary UMich sentiment data for October, with the 5-10Y now at 2.9%…
Source: Bloomberg
This anxiety weighed on the overall sentiment survey, as it declined from 70.1 to 68.9 (well below the 71.0 expected). Both the current conditions and expectations index also fell on the month…
Source: Bloomberg
Rather oddly, while inflation expectations have softened in recent months, concerns about high prices remains extremely elevated…
Source: UMich
It seems the ‘average American’ is smart enough to understand the difference between price levels (what it actually costs you every day) and inflation (the rate of change of that cost). Of course, it’s the former that matters to main street.
Tyler Durden
Fri, 10/11/2024 – 10:08
