Consumer confidence in the US economy reached its highest level since July 2021 in January, due to improving inflation expectations, according to an estimate from the University of Michigan.
The aforementioned educational institution index, which measures consumer confidence, rose by 13.3% compared to December to reach 79 points, confirming other estimates published in January.
“Consumers are confident that inflation will continue to slow,” the survey director, Joan Hsu, said in a statement, according to what was reported by Agence France-Presse.
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Hsu explained that consumers are not unanimous in the health status of the American economy, as 41% believe that “a favorable period is coming during the next year” for the economic situation, “while 48% expect a difficult period.”
12-month inflation remained stable in the United States at 2.6%, according to the Personal Consumption Expenditures Index published by the Commerce Department last week, the data most closely followed by the Federal Reserve (FED).
In this sense, core inflation – which excludes volatile food and energy prices – continues to moderate, reaching 2.9% in the 12 months to December.
With information from Telam
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