US Consumers Confident that Inflation Will Pick Up

US consumers' outlook for inflation picked up in June, with the one-year inflation outlook climbing 0.2% higher to touch 2.7%.

Arslan Butt•Tuesday, July 9, 2019•1 min read

Data released by the New York Fed’s Survey of Consumer Expectations on Monday reveals that consumers’ outlook for inflation picked up in June, with the one-year inflation outlook climbing 0.2% higher to touch 2.7%. Three-year inflation expectations also rose to 2.7% after May’s levels touched the lowest readings since 2017.

US consumers also expressed more optimism about their personal finances in June, with higher confidence about wage growth and keeping their jobs intact. They also expressed a lower chance of missing payment on debts.

However, only 39% of US consumers surveyed saw stock prices climbing higher in this year. This is the lowest figure for this reading since 2016.

Last week’s NFP report also offers some support to the US consumer confidence, work jobs growing by 224k during June. Although, wake growth remained moderate while unemployment ticked 3.7%, pointing to signs that all is not well yet in the US economy.

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Arslan Butt

Lead Markets Analyst – Multi-Asset (FX, Commodities, Crypto)

Arslan Butt serves as the Lead Commodities and Indices Analyst, bringing a wealth of expertise to the field. With an MBA in Behavioral Finance and active progress towards a Ph.D., Arslan possesses a deep understanding of market dynamics. His professional journey includes a significant role as a senior analyst at a leading brokerage firm, complementing his extensive experience as a market analyst and day trader. Adept in educating others, Arslan has a commendable track record as an instructor and public speaker. His incisive analyses, particularly within the realms of cryptocurrency and forex markets, are showcased across esteemed financial publications such as ForexCrunch, InsideBitcoins, and EconomyWatch, solidifying his reputation in the financial community.