😳
Inflation expectations are still rising:
1-year inflation expectations jumped 1.7 percentage points in April, to 6.7%, the highest since November 1981.
This marks a 4th consecutive monthly increase of at least 0.5 percentage points.
1-year inflation expectations have surged by 4.1 percentage points since November 2024.
Moreover, 5-year inflation expectations rose 0.3 percentage points, to 4.4%, the highest since June 1991
All while consumer sentiment has dropped to the second-lowest level on record.
Americans are bracing for stagflation.
