US Consumer Sentiment Deteriorates in September, Inflation Expectations Rise
The University of Michigan survey showed one-year inflation expectations rising to 4.6% as gasoline and fuel prices pushed sentiment to a second-lowest reading.
- The University of Michigan's Sentiment Index fell to 47.8 this month, down from 51.7 in August, marking the second-lowest reading since 1952 as inflation fears gripped Consumers.
- Rising Fuel prices, which soared 10.1% and were up 52% annually, combined with gasoline climbing 3.9% and 27.4% year-over-year, alongside trade tensions, stoked inflation anxiety.
- Survey director Joanne Hsu reported that Year-ahead Expectations surged to 4.6% from 4.0%, while five-year Expectations edged up to 3.4% from 3.3% as Consumers anticipated greater pressures.
- Following the Bureau of Labor Statistics release showing 3.4% annual inflation, Traders now see a Federal Reserve rate hike next week as near certainty, with odds rising past 85%.
- Inflation remains far above the Federal Reserve's 2% target, with Twelve-month Expectations exceeding the 2024 range of 2.8% to 3.2%, signaling persistent economic headwinds ahead.
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23 Articles
US consumer sentiment deteriorates in September, inflation expectations rise
U.S. consumer sentiment deteriorated in early September as rising gasoline prices and trade tensions stoked fears of higher inflation over the next 12 months, a survey showed on Friday.
The United States consumer sentiment index fell to 47.8 points in September in the preliminary reading, before 51 in August, according to data released this Friday by the University of Michigan. Some analysts predicted a mark of 51.4 points. Exclusive material for subscribers. To have full access, access the link of the subject and make your registration.
US consumer sentiment deteriorated further in September. The University of Michigan's preliminary sentiment index fell to 47.8 from 51.7 in August, a weaker result than analysts had expected. The deterioration in the indicator is due to rising fuel prices and growing concerns about the cost of living.
The confidence of American consumers, measured by the Michigan index, dropped in September to 47.8 from 51.7 in August. The figure is under the expectations of analysts. (ANSA). (ANSA)
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