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. source: University of Michigan

Michigan Inflation Expectations in the United States decreased to 4.50 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
2026-04-24 02:00 PM
Michigan Inflation Expectations Final
Apr 4.7% 3.8% 4.8% 4.8%
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 4.7% 4.5% 4.5%


Related Last Previous Unit Reference
CPI 330.21 326.79 points Mar 2026
Core Consumer Prices 334.17 333.51 points Mar 2026
Core Inflation Rate YoY 2.60 2.50 percent Mar 2026
Core Inflation Rate MoM 0.20 0.20 percent Mar 2026
Core PCE Price Index 129.28 128.90 points Mar 2026
Core PCE Price Index YoY 3.20 3.00 percent Mar 2026
Core PCE Price Index MoM 0.30 0.40 percent Mar 2026
Core PCE Prices QoQ 4.30 2.70 percent Mar 2026
Core Producer Prices 152.19 152.05 points Mar 2026
Core PPI MoM 0.10 0.30 percent Mar 2026
Core PPI YoY 3.80 3.80 percent Mar 2026
CPI Core Core YoY 2.60 2.40 percent Mar 2026
CPI Housing Utilities 355.10 353.74 points Mar 2026
CPI Median 2.70 2.90 percent Mar 2026
CPI s.a 330.29 327.46 points Mar 2026
CPI Transportation 283.43 269.61 points Mar 2026
CPI Trimmed-Mean 2.60 2.70 percent Mar 2026
Energy Inflation 12.50 0.50 Percent Mar 2026
Export Prices 161.00 158.40 points Mar 2026
Export Prices MoM 1.60 1.90 percent Mar 2026
Export Prices YoY 5.60 3.80 percent Mar 2026
Food Inflation 2.70 3.10 percent Mar 2026
GDP Price Index 130.62 129.43 points Dec 2025
Import Prices 144.60 143.50 points Mar 2026
Import Prices MoM 0.80 0.90 percent Mar 2026
Import Prices YoY 2.10 1.00 percent Mar 2026
Consumer Inflation Expectations 3.60 3.40 percent Apr 2026
Inflation Rate YoY 3.30 2.40 percent Mar 2026
Inflation Rate MoM 0.90 0.30 percent Mar 2026
Michigan 5 Year Inflation Expectations 3.40 3.50 percent May 2026
Michigan Inflation Expectations 4.50 4.70 percent May 2026
PCE Price Index 130.34 129.45 points Mar 2026
PCE Price Index YoY 3.50 2.80 percent Mar 2026
PCE Price Index MoM 0.70 0.40 percent Mar 2026
PCE Prices QoQ 4.50 2.90 percent Mar 2026
PPI Ex Food Energy and Trade Services 140.40 140.11 points Mar 2026
PPI Ex Food, Energy and Trade MoM 0.20 0.50 percent Mar 2026
PPI Ex Food, Energy and Trade YoY 3.60 3.50 percent Mar 2026
PPI MoM 0.50 0.50 percent Mar 2026
PPI 154.01 153.22 points Mar 2026
PPI YoY 4.00 3.40 percent Mar 2026
Shelter Inflation 3.00 3.00 percent Mar 2026
Services Inflation 3.10 3.10 Percent Mar 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
4.50 4.70 10.40 0.40 1978 - 2026 percent Monthly
1966Q1=100, NSA

News Stream
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
US 1-Year Inflation Outlook Hits 8-Month High
The year-ahead inflation expectations in the United States, as compiled by the survey of the University of Michigan, picked up to 4.8% in April 2026, the steepest since August 2025, from 3.8% in the prior month, preliminary estimates showed. In the meantime, the five-year inflation outlook rose to 3.4%, the highest in five months, from 3.2% previously.
2026-04-10