by John Carney
Breitbart.com
The rate of inflation expected by American households climbed in April, the latest signal that the Fed’s progress in bringing down inflation has stalled.
The University of Michigan’s survey of consumer sentiment showed Friday that the expected rate of inflation in the year ahead rose to 3.2 percent in April from 2.9 percent a month earlier. The longer-run expected inflation rate rose to 3.0 percent from 2.8 percent.
Inflation stopped falling in the second half of last year and has accelerated this year. The personal consumption price index rose at an annualized rate of 3.4 percent in the first three months of the year, a big jump from the 1.8 percent recorded in the last quarter of 2023. The core rate of inflation, which excludes food and energy, rose at a 3.7 percent annualized rate, up from two percent at the end of last year.