U.S. inflation is much higher than the 2% target routinely outlined by the Federal Reserve.
According to a monthly Consumer Sentiment study from market research company Numerator, 78% of Americans think “inflation will increase” in the next few months. In addition, 68% of people say the U.S. economy will worsen in the next few months.According to a monthly Consumer Sentiment study from market research company Numerator, 78% of Americans think “inflation will increase” in the next few months. In addition, 68% of people say the U.S. economy will worsen in the next few months.
April’s inflation data showed that U.S. inflation eased to 4.9% year-over-year, the first time it has been below 5% in two years, but actually increased 0.4% from the prior month. Despite cooling inflation over the last year, Americans are still worried about rising prices. Home prices rose in March partially over limited supply, according to the Case-Shiller Index, and food prices were 8.5% more expensive in March than they were a year ago .
These pessimistic economic fears have remained fairly consistent in recent months as many Americans are fearful of a potential recession, polls show.
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