Consumer Confidence Declined in February, While Inflation Expectations Increased

• By Steph. G. Halston
• (General Dispatch) – According to data released in a survey conducted by the University of Michigan on Friday. Consumers projected lower enthusiasm during the month of February.

• As a result, the consumer confidence index fluctuated from 79% in January to 76.8% in the current month. However, forecasts made by economists indicated a further decline.

• “Despite a small gain in late February, consumer sentiment was slightly lower for the entire month than in January,” according to leading economist Richard Curtin, leader of the survey.

• “All of February’s loss was due to households with incomes below $75,000, with the declines mainly concentrated in future economic prospects, the worst of the pandemic may be nearing its end, but few consumers anticipate the type of persistent and robust economic growth that restores employment conditions to the very positive pre-pandemic levels.” Curtin Said

• These inflation indexes have generated greater concern on the part of consumers, who observe the upward fluctuation from one month to the next.

• “While consumers clearly anticipate a spurt in inflation in the year ahead, the overall evidence does not indicate the emergence of an inflationary psychology that makes the expectation of inflation a self-fulfilling prophecy,” Curtin Finished

• For now, the economic measures taken by Biden have not had a greater impact on the economy than small fluctuations, and it is expected that the inflationary trend will begin to slow down in the coming months.

Adittional Information:

Breitbart: Consumer Sentiment Dipped in February and Inflation Expectations Climbed

Daily Advent: Inflation Expectations Climbed In February