- Prior was 59.7
- Current conditions 68.6 vs 60.0 expected (prior 59.4)
- Expectations 62.0 vs 59.5 expected (prior was 59.9)
- One-year inflation expectations 4.0% vs 4.4% prior
- 5-year inflation expectations 3.0% vs 2.9% prior
This survey is nothing more than a barometer of political sentiment and gasoline prices. That said, the Fed watches the inflation number closely and it was a contribution to the sudden switch to more-aggressive hiking in June (which is funny because it was later revised down).
The one-year number will certainly be welcome while the 5-year number is back to where it was for months.
Five year inflation expectations