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***Breaking*** U S Consumer Sentiment Falls Eight Percent From Last Month
Inflation expectations highest since 1971
1 replies
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ETA:
https://archive.ph/0mHcK
US consumer sentiment fell to one of the lowest readings on record and long-term inflation expectations climbed to the highest since 1991 on fears of the economic fallout from tariffs.
The final April sentiment index fell to 52.2 from 57 a month earlier, according to the University of Michigan. While a slight improvement from the preliminary gauge of 50.8, the latest figure is the fourth-lowest in data back to the late 1970s.
Consumers anticipated inflation will rise at an annual rate of 4.4% over the next five to 10 years, the data out Friday showed. They expect prices to rise at a 6.5% pace over the next year. While down from a preliminary reading of 6.7%, year-ahead price expectations are still the highest since 1981.
The survey began March 25 and concluded April 21, a period that included President Donald Trump’s announcement of annual rate a 90-day pause on higher tariffs for dozens of US trading partners. He also raised duties on Chinese goods to an eye-watering 145%.
In addition to stoking fears of higher inflation, the Trump administration’s trade policies are elevating anxiety about the economy and labor market. The university’s expectations index slumped to 47.3, the lowest since 2022, as 60% of respondents offered unsolicited comments about the hit from tariffs.
The final April sentiment index fell to 52.2 from 57 a month earlier, according to the University of Michigan. While a slight improvement from the preliminary gauge of 50.8, the latest figure is the fourth-lowest in data back to the late 1970s.
Consumers anticipated inflation will rise at an annual rate of 4.4% over the next five to 10 years, the data out Friday showed. They expect prices to rise at a 6.5% pace over the next year. While down from a preliminary reading of 6.7%, year-ahead price expectations are still the highest since 1981.
The survey began March 25 and concluded April 21, a period that included President Donald Trump’s announcement of annual rate a 90-day pause on higher tariffs for dozens of US trading partners. He also raised duties on Chinese goods to an eye-watering 145%.
In addition to stoking fears of higher inflation, the Trump administration’s trade policies are elevating anxiety about the economy and labor market. The university’s expectations index slumped to 47.3, the lowest since 2022, as 60% of respondents offered unsolicited comments about the hit from tariffs.