Inflation Expectations Slide Back to Pre-Tariff Levels: University of Michigan Report

Americans are less worried about the economy and inflation as they shrug off President Donald Trump’s tariffs, according to the University of Michigan’s preliminary July survey.

The one-year inflation outlook, released on July 18, decreased to 4.4 percent from 5 percent in June, marking the second consecutive monthly decline. Likewise, the five-year forecast eased to 3.6 percent from 4 percent.