Consumers expect prices will climb at an annual rate of 4.6% over the next year, down from the 4.9% expected a month earlier, to the lowest since September 2021, according to the preliminary December reading from the University of Michigan. Long-term inflation expectations held at 3%.
“Consumers’ concerns over high prices in a variety of contexts have eased somewhat over the last month — though these concerns still remain substantially higher than a year and a half ago —showing that the decline in year-ahead inflation expectations was not solely an artifact of current gas prices,” Joanne Hsu, director of the survey, said in a statement.
The report showed the median expected change in incomes rose to the highest in 15 years, but half of all respondents said they expect inflation to outstrip those gains over the coming year. The current conditions gauge increased to 60.2 from 58.8. A measure of expectations rose to 58.4 this month from 55.6 in November.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Nigeria Nigeria Latest News, Nigeria Nigeria Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Business Maverick: The Developing World Is Facing a $2.5 Trillion Debt ShockDeveloping nations may need to find as much as $2.5 trillion over five years to meet external debt-service costs as interest rates rise and poorer countries struggle to refinance borrowings, a Finance for Development Lab model shows.
Source: dailymaverick - 🏆 3. / 84 Read more »
Business Maverick: Oil Halts Losses as China Covid Shift Reduces Demand ConcernsAfter three days of big losses, the oil market is finally taking a bit of a breather. Prices drifted within little changed territory as traders took a pause to assess whether further signs of China’s economy reopening could help support demand. I have lost so much through investing cause I was new and didn't meet the right account manager to invest with. I was at the verge of quitting till I was introduced to JamesAlderson0 and my story changed. its worth a try I can testify this platform. JamesAlderson0
Source: dailymaverick - 🏆 3. / 84 Read more »
Business Maverick: Cryptos Are the ‘Bubble of a Generation,’ ECB’s Panetta SaysCrypto-assets that promised radical change in how people pay, save and invest have turned into the “bubble of a generation,” highlighting the need for stricter regulation and risk management, according to European Central Bank Executive Board member Fabio Panetta. Why? You played the roulette wheel on an “investment “ and you lost. Regulation will not change the way it was run. Not everything needs regulations
Source: dailymaverick - 🏆 3. / 84 Read more »
BUSINESS MAVERICK: Cartoon Thursday with RicoDefend Truth
Source: dailymaverick - 🏆 3. / 84 Read more »
Business Maverick: Stocks mixed on China reopening, recession fears: markets wrapStocks in Asia fluctuated following signs China would further relax its Covid restrictions, while Treasuries flashed warning signs of recession. The dollar strengthened in an indication of demand for havens. China lies...
Source: dailymaverick - 🏆 3. / 84 Read more »
Business Maverick: The UK workforce is becoming less appealing to global bossesThe UK is failing to develop a skilled and globally desirable workforce, with domestic talent increasingly less attractive to overseas businesses, according to a new survey of international executives.
Source: dailymaverick - 🏆 3. / 84 Read more »