U.S. consumer inflation expectations rise

Joanne Hsu, director of consumer surveys at the University of Michigan, stated that inflation expectations for the next year have jumped from 4.3% last month to 4.9% this month, marking the highest level since November 2022 and signifying an unusually large increase of 0.5 percentage points or more for three consecutive months. This month's growth is reflected across all three political factions. Long-term inflation expectations soared from 3.5% in February to 3.9% in March, marking the largest monthly increase since 1993, primarily due to a larger increase among independents, even though February's increase was already significant.