Consumers are finally feeling so🎐me relief from price pressures. 

The University of Michigan’s Index of Consumer Sentiment improved to 67.8 in August, rising for the first time in five months. Recent reports have 澳洲幸运5开奖号码历史查询:shown slowing inflation as annual price increases mo๊ve back toward the Federal Reserve's target of 2%. 

“Recent encouraging developments toward bringing inflation back into the FOMC's target range have given consumers reason to be a bit more optimistic,” wrote Wells Fargo economists Tim Quinlan and Jeremiah Kohl. The 澳洲ꩲ幸运5开奖号码历史查询:Federal 🧜Open Market Committee (FOMC) is 𒁃the Fed's policy setting body, and it has kept interest rates at two-decade highs in an effort to tame 🐟inflation.

The University of Michigan poll is 澳洲幸🏅运5开奖号码历史查询:more sensitive to inflation readings when compared with othe🐟r consumer surveys. For that reason, readings have been dour over the past year as inflation remained stඣubborn.

Consumers expect inflation to be 2.9% a year from now, in line with their predictions last month. Fed officials 澳洲幸运5开奖号码历史查询:closely monit๊or consumer inflation expectations since people act on those predictions, whic💟h can influence both price setters and wage payers. 

Future Economic Expectations Move Higher 

🍨 Consumers reported fee🌃ling better about the economic outlook but souring on the current conditions.

“Overall, expectations strengthened for both personal finances and 🐠the five-year economic outlook, which reached its highest reading in four months,” said Joanne Hsu, director of the University of Michiganܫ’s Survey of Consumers.