The year-ahead inflation outlook in the United States, as compiled by the survey of the University of Michigan, was revised up to 4.8% in May 2026, from an earlier estimate of 4.5% and compared to April's 4.7%, reaching the highest level since August last year. Meanwhile, five-year inflation expectations were also revised to 3.9%, the highest in seven months, up from 3.4% previously and 3.5% in April. source: University of Michigan

Michigan Inflation Expectations in the United States increased to 4.80 percent in May from 4.70 percent in April of 2026. Michigan Inflation Expectations in the United States averaged 3.61 percent from 1978 until 2026, reaching an all time high of 10.40 percent in January of 1980 and a record low of 0.40 percent in November of 2001. This page includes a chart with historical data for the United States Michigan Inflation Expectations. United States Michigan 1-Year Inflation Expectations - data, historical chart, forecasts and calendar of releases - was last updated on May of 2026.



Calendar GMT Reference Actual Previous Consensus TEForecast
2026-05-08 02:00 PM
Michigan Inflation Expectations Prel
May 4.5% 4.7% 4.9%
2026-05-22 02:00 PM
Michigan Inflation Expectations Final
May 4.8% 4.7% 4.5% 4.5%
2026-06-12 02:00 PM
Michigan Inflation Expectations Prel
Jun 4.8%


Related Last Previous Unit Reference
CPI 333.02 330.21 points Apr 2026
Core Consumer Prices 335.42 334.17 points Apr 2026
Core Inflation Rate YoY 2.80 2.60 percent Apr 2026
Core Inflation Rate MoM 0.40 0.20 percent Apr 2026
Core PCE Price Index 129.63 129.32 points Apr 2026
Core PCE Price Index YoY 3.30 3.20 percent Apr 2026
Core PCE Price Index MoM 0.20 0.30 percent Apr 2026
Core PCE Prices QoQ 4.40 2.70 percent Mar 2026
Core Producer Prices 154.06 152.48 points Apr 2026
Core PPI MoM 1.00 0.20 percent Apr 2026
Core PPI YoY 5.20 4.00 percent Apr 2026
CPI Core Core YoY 2.60 2.60 percent Apr 2026
CPI Housing Utilities 357.35 355.10 points Apr 2026
CPI Median 2.80 2.70 percent Apr 2026
CPI s.a 332.41 330.29 points Apr 2026
CPI Transportation 291.75 283.43 points Apr 2026
CPI Trimmed-Mean 2.80 2.60 percent Apr 2026
Energy Inflation 17.90 12.50 Percent Apr 2026
Export Prices 166.10 160.80 points Apr 2026
Export Prices MoM 3.30 1.50 percent Apr 2026
Export Prices YoY 8.80 5.40 percent Apr 2026
Food Inflation 3.20 2.70 percent Apr 2026
GDP Price Index 131.74 130.62 points Mar 2026
Import Prices 147.60 144.80 points Apr 2026
Import Prices MoM 1.90 0.90 percent Apr 2026
Import Prices YoY 4.20 2.30 percent Apr 2026
Consumer Inflation Expectations 3.60 3.40 percent Apr 2026
Inflation Rate YoY 3.80 3.30 percent Apr 2026
Inflation Rate MoM 0.60 0.90 percent Apr 2026
Michigan 5 Year Inflation Expectations 3.90 3.50 percent May 2026
Michigan Inflation Expectations 4.80 4.70 percent May 2026
PCE Price Index 130.90 130.38 points Apr 2026
PCE Price Index YoY 3.80 3.50 percent Apr 2026
PCE Price Index MoM 0.40 0.70 percent Apr 2026
PCE Prices QoQ 4.50 2.90 percent Mar 2026
PPI Ex Food Energy and Trade Services 141.24 140.45 points Apr 2026
PPI Ex Food, Energy and Trade MoM 0.60 0.20 percent Apr 2026
PPI Ex Food, Energy and Trade YoY 4.40 3.70 percent Apr 2026
PPI MoM 1.40 0.70 percent Apr 2026
PPI 156.50 154.37 points Apr 2026
PPI YoY 6.00 4.30 percent Apr 2026
Shelter Inflation 3.30 3.00 percent Apr 2026
Services Inflation 3.40 3.10 Percent Apr 2026


United States Michigan 1-Year Inflation Expectations
The Index of Consumer Expectations focuses on three areas: how consumers view prospects for their own financial situation, how they view prospects for the general economy over the near term, and their view of prospects for the economy over the long term. Each monthly survey contains approximately 50 core questions, each of which tracks a different aspect of consumer attitudes and expectations. The samples for the Surveys of Consumers are statistically designed to be representative of all American households, excluding those in Alaska and Hawaii. Each month, a minimum of 500 interviews are conducted by telephone.
Actual Previous Highest Lowest Dates Unit Frequency
4.80 4.70 10.40 0.40 1978 - 2026 percent Monthly
1966Q1=100, NSA

News Stream
US 1-Year Inflation Outlook Revised Higher
The year-ahead inflation outlook in the United States, as compiled by the survey of the University of Michigan, was revised up to 4.8% in May 2026, from an earlier estimate of 4.5% and compared to April's 4.7%, reaching the highest level since August last year. Meanwhile, five-year inflation expectations were also revised to 3.9%, the highest in seven months, up from 3.4% previously and 3.5% in April.
2026-05-22
US 1-Year Inflation Outlook Edges Lower
The year-ahead inflation expectations in the United States, as compiled by the survey of the University of Michigan, eased to 4.5% in May 2026 from a seven-month high of 4.7% in April, preliminary estimates showed. At the same time, the five-year inflation outlook edged down to 3.4% from a six-month high of 3.5% in the month before.
2026-05-08
US 1-Year Inflation Outlook at 7-Month High
The year-ahead inflation expectations in the United States, as compiled by the survey of the University of Michigan, accelerated to a seven-month high of 4.7% in April 2026 from 3.8% in March, down slightly from the preliminary estimate of 4.8%. Meanwhile, the five-year inflation outlook was revised slightly up to 3.5%, the highest in six months, from an earlier estimate of 3.4% and above March's 3.2%.
2026-04-24