The University of Michigan’s final October survey, released October 23, found that US households’ inflation expectations rose while consumer sentiment barely changed. Expected inflation over the next year rose to 4.7% from 4.6% in September, and longer-run expectations rose to 3.5% from 3.4%. Sentiment was 48.0, compared with 48.1 in September.
The figures measure households’ expectations, not actual inflation or the Federal Reserve’s projections, and are not directly comparable with the Fed’s 2% target. They do not establish what the Fed will decide at its October 27–28 meeting or which way Bitcoin prices will move.
