Consumer sentiment jumps to 9-month high as inflation ebbs and stocks rebound

The numbers: A survey of consumer sentiment rose to 64.6 in January and hit a nine-month high, reflecting easing worries about inflation and Americans’ greater confidence in their own finances.Consumer sentiment is still weak, though. The index is well off a Coronavirus-era peak of 88.3 in April 2021 and a pre-pandemic high of 101.

Another measure that asks about expectations for the next six months moved up to 62 from 59.9 in the prior month. It’s also just a few notches below year-ago levels. In the longer run, consumers said they see inflation falling toward 3% — above the Federal Reserve’s 2% target. Top Fed officials pay close attention to inflation expectations because they could be a harbinger of future price trends.

Big picture: Cheaper gas, rebounding stock prices and ebbing inflation have given Americans more reason for hope.

In spite of Biden, not because of him.

Not what I am hearing

United States United States Latest News, United States United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Companies not doing enough to warn parents of infant inclined sleep products, Consumer Reports saysAlmost four years after a Consumer Reports investigation prompted the recall of millions of popular infant inclined sleep products, more child deaths have been linked to them. CR and other product safety experts say companies aren’t doing enough to warn parents of the danger.
Source: ksatnews - 🏆 442. / 53 Read more »