Consumer sentiment sinks, approaching three-year low with inflation worries highest since 1981

[PA Democrat]

The numbers: The University of Michigan’s gauge of consumer sentiment fell to 50.8% in a preliminary April reading from 57.0% in the prior month. It is the lowest level since June 2022. Sentiment has dropped for four straight months and is down 30% from December.

Economists polled by the Wall Street Journal had expected an April reading of 54.6%.

The details: According to the report, Americans’ expectations for overall inflation over the next year jumped to 6.7% in April from 5% in the prior month. That’s the highest reading since 1981.

Expectations for inflation over the next five years rose to 4.4% from 4.1% in March.

https://www.marketwatch.com/story/consumer-sentiment-falls-for-fourth-straight-month-as-inflation-expectations-soar-dbf722fe

[Historic NY]

1. Trumps election boasting to fix things on day one is a flight of fantasy. He can't even lower the price of eggs.

People are becoming wise (woke) to the boasts.

[progree]

2. A couple of graphs

The original source: http://www.sca.isr.umich.edu/

Here's a couple of the graphs:


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And links to three more:

Current Economic Conditions Index http://www.sca.isr.umich.edu/files/chiccr.pdf
Index of Consumer Expectations http://www.sca.isr.umich.edu/files/chicer.pdf
Expected Changes in Prices During the Next Five Years http://www.sca.isr.umich.edu/files/chpx5r.pdf

They also have Excel versions of all of the above.

All of the above are the 10 year graphs. They also have 50 year graphs, both PDF and Excel of all of the above.
http://www.sca.isr.umich.edu/charts.html