Michigan 1 year expectations at 4.3% vs 3.3% Bloomberg consensus.
Figure 1: Year-on-Year CPI inflation (bold black), one year ahead Michigan (red), NY Fed (green), all in %. Source: BLS, U.Michigan and NY Fed.
A one percentage point increase in y/y expected inflation is over two standard deviations from expected.
In add, the 5-year inflation expectations index came in at 3.3%, matching early January and the highest reading since early June, 2022. Good thing the rapist-in-chief backed down on tariffs for Canada and Mexico. Too bad he now says he’ll impose reciprocal tariffs on everybody and eveything.