Medium-term inflation expectations picked up in preliminary UMich sentiment data for October, with the 5-10Y now at 2.9%...

This anxiety weighed on the overall sentiment survey, as it declined from 70.1 to 68.9 (well below the 71.0 expected). Both the current conditions and expectations index also fell on the month...

Rather oddly, while inflation expectations have softened in recent months, concerns about high prices remains extremely elevated...

It seems the 'average American' is smart enough to understand the difference between price levels (what it actually costs you every day) and inflation (the rate of change of that cost). Of course, it's the former that matters to main street.

Rather oddly, while inflation expectations have softened in recent months, concerns about high prices remains extremely elevated...
{ai:summary}<p>Medium-term inflation expectations rose to 2.9% in October, contributing to a decline in overall consumer sentiment from 70.1 to 68.9, below expectations. Both current conditions and expectations indices also fell, indicating heightened concern about high prices.</p><p>Despite recent softening of inflation expectations, worries about high prices persist among consumers, suggesting an awareness of the distinction between price levels and inflation rates. #economy</p>

UMich Sentiment Slips In October As Inflation Expectations Rebound

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