US Consumers , Optimistic Despite , Rising Gas Prices.<br />CNN reports that American consumers <br />remain optimistic that inflation is easing, <br />despite rising gas prices.<br />CNN reports that American consumers <br />remain optimistic that inflation is easing, <br />despite rising gas prices.<br />According to a survey by the University of Michigan, <br />consumers' expectations of inflation rates have reached , "the lowest since March 2021 and just <br />above the 2.3-3.0% range seen in the <br />two years prior to the pandemic.".<br />The survey also found that expectations <br />for the next five to 10 years dropped to 2.7%, , "falling below the narrow 2.9-3.1% range for <br />only the second time in the last 26 months.".<br />The drop in five-to-10-year inflation <br />expectations … is a seriously <br />welcome development, Ian Shepherdson, chief economist <br />at Pantheon Macroeconomics, via CNN.<br />We have argued for some <br />time that a clear downshift <br />in inflation expectations was <br />overdue, and this decline is <br />a big step towards normalization, Ian Shepherdson, chief economist <br />at Pantheon Macroeconomics, via CNN.<br />We have argued for some <br />time that a clear downshift <br />in inflation expectations was <br />overdue, and this decline is <br />a big step towards normalization, Ian Shepherdson, chief economist <br />at Pantheon Macroeconomics, via CNN.<br />CNN reports that optimism dropped to its lowest level <br />on record in 2022, when gas prices broke $5 a gallon <br />and inflation swelled to a forty-year high.<br />CNN reports that optimism dropped to its lowest level <br />on record in 2022, when gas prices broke $5 a gallon <br />and inflation swelled to a forty-year high.<br />The survey also showed that consumers <br />in the U.S. are concerned about a looming <br />potential government shutdown. .<br />On the bright side, CNN reports <br />that gas prices could begin to creep <br />lower in the fall as demand decreases.<br />Oil costs are putting upward <br />pressure on pump prices, <br />but the rise is tempered <br />by much lower demand, Andrew Gross, AAA spokesperson, via CNN.<br />The slide in people fueling up is typical, <br />with schools back in session, the days <br />getting shorter, and the weather less <br />pleasant. But the usual decline <br />in pump prices is being stymied <br />for now by these high oil costs, Andrew Gross, AAA spokesperson, via CNN.<br />The slide in people fueling up is typical, <br />with schools back in session, the days <br />getting shorter, and the weather less <br />pleasant. But the usual decline <br />in pump prices is being stymied <br />for now by these high oil costs, Andrew Gross, AAA spokesperson, via CNN
