August Univ. of Michigan Consumer Sentiment – Prelim 55.1 (consensus 52.1); Prior 51.5
The key takeaway from the report is that consumers’ inflation expectations were little changed, dipping to 5.0% from 5.2% for the year ahead (but above 4.6% seen a year ago) and edging up to 3.00% from 2.9% for the five-year outlook.
July import prices fell 1.4% after the revised increase of 0.3% in May (from 0.2%).
Import prices, excluding oil, fell 0.5% after the revised decrease of 0.6% in May (from -0.5%). Export prices fell 3.3% after the 0.7% increase in May. Export prices, excluding agriculture, fell 3.3% after a revised 0.8% increase in May (from 0.9%)