Consumer confidence improved above expectations last month, reaching its maximum in five months, since Americans seem to be less concerned about inflation, even after a rebound this month, according to the monthly survey of the University of Michigan published on Friday. However, respondents still perceive a considerable risk that inflation will increase in the future.
Key data
The preliminary reading of the consumer’s confidence survey at the University of Michigan was 61.8, higher than the reading of June 60.7 and slightly above the 61.4 Dow Jones estimate, the highest level of trust since February (64.7).
We recommend: inflation in the US advances as the transfer of tariffs starts
Concern for inflation expectations for next year decreased for the second consecutive month, going from 5% in June to 4.4% in July, while long -term concern decreased for the third consecutive month, from 4% in June to 3.6% in July, suggesting that consumers have been less concerned about inflation in recent months.
Meanwhile, inflation increased year -on -year to 2.7%in June, above the average estimates of economists of 2.6%, while underlying consumer prices recorded an annual increase of 3%.
Inflation predictions, both for the coming and long -term year, in the Michigan survey they are the lowest since February, but even higher than those of December, the pollsters pointed out, indicating that consumers “still perceive a considerable risk that inflation will increase in the future.”
In development …
This article was originally published by Forbes US
Little text and great information in our X, follow us!
