Inflation expectations for the coming year in the United States fell further at the end of March to their lowest level in nearly two years, although consumers remained relatively pessimistic about the economic outlook. According to the final March reading from the University of Michigan; Consumers expect prices to rise at an annualized rate of 3.6% over the next year, down from 3.8% earlier in the month and 4.1% in February. Data released yesterday (Friday) showed that they see costs rising 2.9% over the next five to ten years. The consumer sentiment index fell to 62 from 67 in February, as consumers' assessment of current and expected conditions worsened. The median estimate in a Bloomberg survey of economists indicates a reading of 63.3.
According to the report; The survey collected responses through March 27, but it should be noted that about two-thirds were received early in the month before the collapse of Silicon Valley Bank. The share of consumers who have heard negative news about the economy has remained stable since February.
Okaz (Washington) @okaz_online
