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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27 Articles
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(New York = Yonhap News) Correspondent Kim Yeon-sook = Economic sentiment among U.S. consumers has fallen for two consecutive months due to the impact of rising oil prices and trade conflicts.
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.
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