Keeping you up to date on the latest data releases.
- Consumer Sentiment
According to the latest release from the University of Michigan, its Index of Consumer Sentiment was virtually unchanged during the April revision, adding 0.2 points to 69.8, though it’s below February’s level of 77.5. Much of April’s sentiment gain relative to March came from an increase in the consumer expectations component, which rose from 57.9 to 61.6. The current economic conditions component was flat at 82.5 during the month. Median year-ahead inflation expectations remained at 4.6 percent during the April revision and were unchanged from March's level. Encouragingly, longer-term (5- to 10-year) median inflation expectations were unrevised at 2.9 percent in April, holding onto a 0.3 percentage point decline from March’s level. This may suggest that households see recent energy and commodity price shocks as transitory relative price changes and not signals of higher future inflation.