The University of Michigan released a consumer sentiment index for April today at 3:00 pm BST.
University of Michigan flash data for March
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Consumer sentiment index: 63.5 vs 63.5 expected (62.0 previously)
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1-year inflation expectations: 4.6% vs 4.6% expected (3.6% previously)
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5-year inflation expectations: 3.0% vs 2.9% expected (2.9% previously)
Consumer Sentiment Index data turned out to be in line with the analysts expectations. Similarly, inflation expectations came near forecasted data. 1-year inflation came at 4.6% and what is more important, inflation expectations rose by 1 pp compared to the latest reading at 3.6%. This mens that inflation is more sticky and consumers expect it to last for a longer period of time. 5-year inflation came slightly higher at 3.0%.
