UMich US December prelim consumer sentiment 59.1 vs 56.9 expected

• Prior was 54.7
• Current conditions 60.2 vs 58.0 exp
• Expectations 58.4 vs 56.0 exp
• One-year inflation 4.6% vs 4.9% prior
• Five-year inflation 3.0% vs 3.0% prior

I'm not a fan of this report. It's nothing more than a Presidential approval poll combined with sentiment around gas prices. I'm not surprised it's jumped after people had a chance too cool off following the mid-terms but the headline doesn't tell you anything about the state of the consumer. Despite today's beat, it's still below 2009 levels.

What is interesting is the fall in one-year inflation expectations, which is the lowest since Sept 2021. If you can remember back to the summer, the Fed hit the panic button on the prelim 1-year inflation Inflation Inflation is defined as a quantitative measure of the rate in which the average price level of goods and services in an economy or country increases over a period of time. It is the rise in the general level of prices where a given currency effectively buys less than it did in prior periods.In terms of assessing the strength or currencies, and by extension foreign exchange, inflation or measures of it are extremely influential. Inflation stems from the overall creation of money. This money is m Inflation is defined as a quantitative measure of the rate in which the average price level of goods and services in an economy or country increases over a period of time. It is the rise in the general level of prices where a given currency effectively buys less than it did in prior periods.In terms of assessing the strength or currencies, and by extension foreign exchange, inflation or measures of it are extremely influential. Inflation stems from the overall creation of money. This money is m Read this Term number only for it to be revised back down. That said,this isn't the first month of topping inflation expectations, which will give the Fed a lot of comfort.