BREAKING: UoM data in line with expectations

The University of Michigan released a consumer sentiment index for April today at 3:00 pm BST. 

University of Michigan flash data for March

• Consumer sentiment index: 63.5 vs 63.5 expected (62.0 previously)

• 1-year inflation expectations: 4.6% vs 4.6% expected (3.6% previously)

• 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%.