The U.S. median one-year inflation expectations saw an increase to 6%, higher than October’s already growing 5.7%.
In-spite of this rise in expected inflation, year ahead household spending expectations are at a series high of 5.7%.
The survey found that long-term inflation expectations were mixed. In the medium-term, consumers’ inflation expectations declined. Year ahead earnings growth potential was near October’s 3.0% 2021 high, at 2.8%.
The U.S Dollar saw a small downturn after the news. This report comes before Thursday’s advanced December PMI readings.