Here's wishing you well; enjoy it while you can. For those of us who like a reality check every now and then here ya go. . .
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Good morning. Wishing you all a lovely weekend
These three @wsj charts highlight some key issues regarding US #inflation such as:
Headline vs core (i.e., lower energy vs more broad-based drivers of higher prices); and
Going forward, the greater influence of shelter and #wages.
Mohamed on Twitter (@elerianm)
What a game for the #Mets against the #Phillies. A classic. It’s really wonderful to have @JdeGrom19 back. (Just wish the Braves would stop winning.) @Mets @Phillies #lgm
From @markets on the @BankOfEngland’s inflation forecasts.
This pattern of ever higher #inflation forecasts for longer over the last 18 months is one that has plagued several other major #CentralBanks, including the @ECB and the @FederalReserve.#economy #markets #inflation
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Preliminary Results for August 2022
|
Aug | Jul | Aug | M-M | Y-Y |
|
2022 | 2022 | 2021 | Change | Change |
Index of Consumer Sentiment | 55.1 | 51.5 | 70.3 | +7.0% | -21.6% |
Current Economic Conditions | 55.5 | 58.1 | 78.5 | -4.5% | -29.3% |
Index of Consumer Expectations | 54.9 | 47.3 | 65.1 | +16.1% | -15.7% |
Featured Chart (PDF)
Next data release: Friday, August 26, 2022 for Final August data at 10am ET
Surveys of Consumers Director Joanne Hsu
Consumer sentiment moved up very slightly this month to about 5
index points above the all-time low reached in June. All components of
the expectations index improved this month, particularly among low and
middle income consumers for whom inflation is particularly salient. The
year-ahead economic outlook rose substantially to just above its average
reading from the second quarter 2022, while the two other expectations
index components remain at or below their second quarter averages. At
the same time, high income consumers, who generate a disproportionate
share of spending, registered large declines in both their current
personal finances as well as buying conditions for durables. With
continued declines in energy prices, the median expected year-ahead
inflation rate fell to 5.0%, its lowest reading since February but still
well above the 4.6% reading from a year ago. At 3.0%, median long run
inflation expectations remained within the 2.9-3.1% range seen over the
past year. Uncertainty over long run inflation receded a bit, with the
interquartile range in expectations falling from 4.7 last month to 3.8
this month, remaining above the 3.3 range seen last August. Still, the
share of consumers blaming inflation for eroding their living standards
remained near 48%.
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