The Consumer Sentiment Index in the United States declined in January compared to the month prior, to stand at 71.1, a final report posted by the University of Michigan showed on Friday. The figure was down 3.9% on a monthly basis and 10% on an annual level, coming in lower than the preliminary reading of 73.2.
The Current Economic Conditions Index tumbled 1.5% in the reported period compared to December 2024 and slid 9.6% compared to January 2024, amounting to 74 points. The Index of Consumer Expectations tumbled 5.5% on a monthly basis and 10.1% on a yearly basis, coming in at 69.3.
"Year-ahead inflation expectations soared from 2.8% last month to 3.3% this month. The current reading is the highest since May 2024 and is above the 2.3-3% range seen in the two years prior to the pandemic. Long-run inflation expectations rose from 3% last month to 3.2% this month, the same reading seen in November 2024," it was written in the report.
