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United States Michigan Inflation Expectations

Price

3.3 %
Change +/-
+0.1 %
Percentage Change
+3.08 %

The current value of the Michigan Inflation Expectations in United States is 3.3 %. The Michigan Inflation Expectations in United States increased to 3.3 % on 5/1/2024, after it was 3.2 % on 4/1/2024. From 1/1/1978 to 6/1/2024, the average GDP in United States was 3.59 %. The all-time high was reached on 1/1/1980 with 10.4 %, while the lowest value was recorded on 11/1/2001 with 0.4 %.

Source: University of Michigan

Michigan Inflation Expectations

  • 3 years

  • 5 years

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  • 25 Years

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Michigan Inflation Expectations

Michigan Inflation Expectations History

DateValue
5/1/20243.3 %
4/1/20243.2 %
3/1/20242.9 %
2/1/20243 %
1/1/20242.9 %
12/1/20233.1 %
11/1/20234.5 %
10/1/20234.2 %
9/1/20233.2 %
8/1/20233.5 %
1
2
3
4
5
...
56

Similar Macro Indicators to Michigan Inflation Expectations

NameCurrentPreviousFrequency
🇺🇸
Consumer Price Index (CPI)
314.8 points314.54 pointsMonthly
🇺🇸
Consumer Price Index for Housing and Utilities
335.056 points334.087 pointsMonthly
🇺🇸
Core Consumer Prices
319.77 points318.872 pointsMonthly
🇺🇸
Core CPI
2.3 %2.4 %Monthly
🇺🇸
Core Inflation Rate
3.4 %3.6 %Monthly
🇺🇸
Core Inflation Rate MoM
0.3 %0.2 %Monthly
🇺🇸
Core PCE Price Index
122.045 points121.944 pointsMonthly
🇺🇸
Core PCE Price Index Annual Change
2.6 %2.8 %Monthly
🇺🇸
Core PCE Price Index MoM
0.1 %0.2 %Monthly
🇺🇸
Core PCE Prices QoQ
2.8 %3.7 %Quarter
🇺🇸
Core Producer Prices
142 points141.94 pointsMonthly
🇺🇸
Core Producer Prices MoM
0 %0.5 %Monthly
🇺🇸
Core Producer Prices YoY
2.4 %2.4 %Monthly
🇺🇸
CPI Transport
271.391 points273.326 pointsMonthly
🇺🇸
Energy Inflation
-4 %1.1 %Monthly
🇺🇸
Export Prices
148.2 points149.2 pointsMonthly
🇺🇸
Export Prices MoM
-0.6 %0.6 %Monthly
🇺🇸
Export Prices YoY
0.6 %-1 %Monthly
🇺🇸
Food Inflation
2.1 %2.2 %Monthly
🇺🇸
GDP Deflator
124.94 points124.16 pointsQuarter
🇺🇸
Import Prices
141.2 points141.8 pointsMonthly
🇺🇸
Import Prices MoM
-0.3 %0.1 %Monthly
🇺🇸
Import Prices YoY
1.1 %1.1 %Monthly
🇺🇸
Inflation Expectations
3 %3 %Monthly
🇺🇸
Inflation Rate
3.3 %3.4 %Monthly
🇺🇸
Inflation Rate MoM
0.2 %-0.1 %Monthly
🇺🇸
Median-CPI
4.32 %4.48 %Monthly
🇺🇸
Michigan 5-Year Inflation Expectations
3 %3 %Monthly
🇺🇸
PCE Price Index
123.096 points123.106 pointsMonthly
🇺🇸
PCE Price Index annual change
2.236 %2.454 %Monthly
🇺🇸
PCE Price Index Monthly Change
0 %0.3 %Monthly
🇺🇸
PCE Prices QoQ
2.5 %3.4 %Quarter
🇺🇸
PPI excluding Food, Energy, and Trade Services
131.634 points131.532 pointsMonthly
🇺🇸
PPI Excluding Food, Energy, and Trade Services MoM
0 %0.4 %Monthly
🇺🇸
PPI excluding Food, Energy, and Trade Services YoY
3.3 %3.2 %Monthly
🇺🇸
Producer Price Change
2.2 %2.3 %Monthly
🇺🇸
Producer Price Inflation MoM
-0.2 %0.5 %Monthly
🇺🇸
Producer prices
143.822 points144.063 pointsMonthly
🇺🇸
Rental inflation
5.2 %5.1 %Monthly
🇺🇸
Seasonally Adjusted Consumer Price Index
313.534 points313.049 pointsMonthly
🇺🇸
Service Inflation
4.9 %5 %Monthly
🇺🇸
Trimmed Mean of the Consumer Price Index
3.42 %3.52 %Monthly

The Index of Consumer Expectations encompasses three primary areas: consumers' perceptions of their personal financial outlook, their short-term outlook for the general economy, and their long-term economic prospects. Each monthly survey comprises about 50 essential questions, each monitoring a distinct facet of consumer attitudes and expectations. The sample for the Surveys of Consumers is statistically crafted to be representative of American households, with the exception of those in Alaska and Hawaii. Each month, at least 500 telephone interviews are conducted.

What is Michigan Inflation Expectations?

Michigan Inflation Expectations are a crucial macroeconomic indicator that can provide in-depth insights into future inflation trends and economic planning on both micro and macro scales. At Eulerpool, we recognize the importance of accurate and timely economic data, which is why we focus on delivering comprehensive and reliable information. Michigan Inflation Expectations, often surveyed by the University of Michigan, play a significant role in shaping monetary policy, consumer behavior, and business planning. Simply put, Michigan Inflation Expectations are derived from surveys conducted on a monthly basis by the University of Michigan’s Survey Research Center. These surveys aim to gauge consumer sentiment regarding inflation over the short term (one year) and the long term (five to ten years). Respondents from diverse backgrounds are asked about their expectations for overall price increases in the future. The aggregated responses reflect the collective expectations of consumers and can serve as a leading indicator for inflation. For policymakers, particularly within the Federal Reserve, the Michigan Inflation Expectations serve as a vital tool. Inflation expectations influence the Federal Reserve’s monetary policy decisions. For instance, if the survey indicates a rise in inflation expectations, the Fed might consider tightening monetary policy by raising interest rates to curb inflation. Conversely, if expectations are lower, it might maintain or lower interest rates to stimulate economic growth. On a broader economic scale, inflation expectations can affect consumer behavior. If consumers expect prices to rise, they might decide to make purchases sooner rather than later, which can stimulate economic activity in the short term but may also contribute to actual inflation. Businesses, on the other hand, might adjust their pricing strategies, wage policies, and investment plans based on anticipated inflation trends. For example, if businesses expect higher inflation, they might increase wages to retain employees, adjust inventory levels, or secure long-term contracts to hedge against future price increases. Investors, too, pay close attention to Michigan Inflation Expectations because inflation can erode investment returns. For example, bond investors, whose returns are fixed, are particularly sensitive to inflation because rising prices reduce the purchasing power of their future interest payments. Equity investors also keep a keen eye on inflation expectations since they can affect corporate profitability and valuation models. Despite its widespread impact, the Michigan Inflation Expectations indicator is not without its criticisms. Some economists argue that survey-based measures of inflation expectations may not always accurately predict future inflation. Respondents might lack the necessary economic expertise, or their responses might be influenced by recent price changes rather than long-term trends. There is also the issue of "anchoring," where consumers' inflation expectations are heavily influenced by the current rate of inflation and past experiences. To counter these concerns, researchers and economists often cross-reference Michigan Inflation Expectations with other indicators and econometric models. Combining these various measures can increase the robustness and reliability of inflation forecasts, providing a more comprehensive view of the economy. In addition to these theoretical concerns, real-world factors can influence Michigan Inflation Expectations. External shocks such as geopolitical events, natural disasters, or sudden supply chain disruptions can cause sudden shifts in consumer sentiment. For instance, the COVID-19 pandemic had a significant impact on inflation expectations globally, including those measured in Michigan. It's also essential to comprehend that Michigan Inflation Expectations, while a critical indicator, should not be viewed in isolation. They are part of a broader suite of economic indicators that together provide a holistic view of economic health. Employment data, GDP growth rates, consumer spending, and other inflation metrics are equally important for forming a well-rounded economic outlook. At Eulerpool, we strive to provide our users with a comprehensive and user-friendly interface for accessing and interpreting Michigan Inflation Expectations. Our platform ensures that you receive not just raw data but contextual information that helps you understand the implications of these inflation expectations. Whether you are an economist, investor, business planner, or policy maker, our detailed analysis and intuitive tools will aid you in making well-informed decisions. Furthermore, our commitment to accuracy and timeliness ensures that you are equipped with the most current data, enabling you to stay ahead in a rapidly changing economic environment. By leveraging advanced analytics and cutting-edge technology, Eulerpool aims to turn complex macroeconomic data into actionable insights. In conclusion, Michigan Inflation Expectations are a cornerstone of economic forecasting and planning. Their influence extends from the Federal Reserve’s policy decisions to consumer behavior, business strategies, and investment planning. While not without limitations, when used in conjunction with other economic indicators, they provide invaluable insights into future inflation trends. At Eulerpool, we are dedicated to delivering this critical data in a reliable, accessible, and insightful manner, empowering our users to make informed decisions in an ever-evolving economic landscape.