The University of Michigan's gauge of consumer sentiment fell to an initial March reading of 59.7 from February's level of 62.8.
The numbers: The University of Michigan’s gauge of consumer sentiment fell to an initial March reading of 59.7 from February’s level of 62.8.Key details: Expectations for inflation over the next year rose to 5.4% from February’s expectation of 4.9%,... The numbers: The University of Michigan’s gauge of consumer sentiment fell to an initial March reading of 59.7 from February’s level of 62.8.Key details: Expectations for inflation over the next year rose to 5.4% from February’s expectation of 4.
Big picture: Economists were expecting inflation to ease in the second half of 2022, but Russia’s invasion of Ukraine and the resulting surge of commodity prices have put those predictions in doubt.
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