Despite a noticeable easing of tensions over inflation on Wall St., Main Street Americans are not convinced that the end of rapid inflation has actually arrived. Bloomberg’s Reade Pickert reports:
US short-term inflation expectations climbed to a seven-month high in November and longer-run price views remained at levels not seen since 2011.
Americans expect prices will climb at an annual rate of 4.5% over the next year, up from the 4.4% expected earlier in the month, according to the final November reading from the University of Michigan. They see costs rising 3.2% over the next five to 10 years, data Wednesday showed.
“Consumers appear worried that the softening of inflation could reverse in the months and years ahead,” Joanne Hsu, director of the survey, said in a statement.
“Despite easing prices at the pump, one-year gas price expectations rose to its highest reading since June 2022, and five-year gas price expectations are their highest since March 2022,” Hsu said.
Action Line: Americans have endured years of Bidenflation now, watching helplessly as it eats away at their disposable funds. If you’re saving for retirement and need to talk about ways to plan for inflation, I’m here. In the meantime, click here to subscribe to my free monthly Survive & Thrive letter.
