Washington, DC CNN —Inflation’s steady slowdown in recent months has kept Americans feeling optimistic about the future.
Consumer sentiment tracked by the University of Michigan rose 13% in July, the second straight month of improvement, according to a preliminary reading released Friday morning.
Meanwhile, the report showed that consumers’ expectations for inflation rates remained at their lowest levels since early 2021.
Consumers see inflation rates of 3.4% in the year ahead, and while that’s well below last year’s 5.4% peak, it’s slightly higher than the previous reading.
“I feel like we are on a golden path of avoiding recession,” Chicago Fed President Austan Goolsbee told CNBC last week.
Persons:
”, Joanne Hsu, “, Austan Goolsbee
Organizations:
DC CNN, University of Michigan, Consumers, Chicago Fed, CNBC
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Washington