Year-ahead inflation expectations in the US, measured by the University of Michigan Surveys of Consumers, climbed to 4.6% in September 2026 from 4% in August, marking the highest reading since June, according to a preliminary estimate. In the meantime, the five-year inflation outlook in the United States, inched up to 3.4% in September 2026, the highest since May, from 3.3% in each of the previous three months. source: University of Michigan

Michigan Inflation Expectations in the United States increased to 4.60 percent in September from 4 percent in August of 2026. Michigan Inflation Expectations in the United States averaged 3.62 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 September of 2026.



Calendar GMT Reference Actual Previous Consensus TEForecast
2026-08-28 02:00 PM
Michigan Inflation Expectations Final
Aug 4% 4.2% 4.3% 4.3%
2026-09-11 02:00 PM
Michigan Inflation Expectations Prel
Sep 4.6% 4% 3.9%
2026-09-25 02:00 PM
Michigan Inflation Expectations Final
Sep 4% 4.6% 4.6%


Related Last Previous Unit Reference
CPI 334.98 333.92 points Aug 2026
Core Consumer Prices 337.77 336.79 points Aug 2026
Core Inflation Rate YoY 2.40 2.50 percent Aug 2026
Core Inflation Rate MoM 0.30 0.20 percent Aug 2026
Core PCE Price Index 130.66 130.34 points Jul 2026
Core PCE Price Index YoY 3.30 3.30 percent Jul 2026
Core PCE Price Index MoM 0.20 0.10 percent Jul 2026
Core PCE Prices QoQ 3.60 4.40 percent Jun 2026
Core Producer Prices 154.84 154.59 points Aug 2026
Core PPI MoM 0.20 0.30 percent Aug 2026
Core PPI YoY 4.60 4.30 percent Aug 2026
CPI Core Core YoY 2.20 2.20 percent Aug 2026
CPI Housing Utilities 360.23 359.56 points Aug 2026
CPI Median 2.60 2.70 percent Aug 2026
CPI s.a 334.13 332.81 points Aug 2026
CPI Transportation 290.78 289.42 points Aug 2026
CPI Trimmed-Mean 2.60 2.60 percent Aug 2026
Energy Inflation 16.30 14.70 Percent Aug 2026
Export Prices 166.20 165.20 points Aug 2026
Export Prices MoM 0.60 -1.40 percent Aug 2026
Export Prices YoY 8.60 8.10 percent Aug 2026
Food Inflation 2.70 3.00 percent Aug 2026
GDP Price Index 133.86 131.78 points Jun 2026
Import Prices 150.80 149.80 points Aug 2026
Import Prices MoM 0.70 -0.30 percent Aug 2026
Import Prices YoY 7.00 6.10 percent Aug 2026
Consumer Inflation Expectations 3.60 3.60 percent Aug 2026
Inflation Rate YoY 3.40 3.40 percent Aug 2026
Inflation Rate MoM 0.40 0.10 percent Aug 2026
Michigan 5 Year Inflation Expectations 3.40 3.30 percent Sep 2026
Michigan Inflation Expectations 4.60 4.00 percent Sep 2026
PCE Price Index 131.66 131.45 points Jul 2026
PCE Price Index YoY 3.70 3.70 percent Jul 2026
PCE Price Index MoM 0.20 -0.10 percent Jul 2026
PCE Prices QoQ 5.30 4.60 percent Jun 2026
PPI Ex Food Energy and Trade Services 143.41 143.01 points Aug 2026
PPI Ex Food, Energy and Trade MoM 0.30 0.40 percent Aug 2026
PPI Ex Food, Energy and Trade YoY 4.70 4.70 percent Aug 2026
PPI MoM 0.40 0.10 percent Aug 2026
PPI 157.41 156.78 points Aug 2026
PPI YoY 5.40 4.80 percent Aug 2026
Shelter Inflation 3.00 3.20 percent Aug 2026
Services Inflation 3.10 3.10 Percent Aug 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
4.60 4.00 10.40 0.40 1978 - 2026 percent Monthly
1966Q1=100, NSA

News Stream
US Year-Ahead Inflation Expectations at 3-Month High
Year-ahead inflation expectations in the US, measured by the University of Michigan Surveys of Consumers, climbed to 4.6% in September 2026 from 4% in August, marking the highest reading since June, according to a preliminary estimate. In the meantime, the five-year inflation outlook in the United States, inched up to 3.4% in September 2026, the highest since May, from 3.3% in each of the previous three months.
2026-09-11
US Year-Ahead Inflation Expectations Revised Lower
Year-ahead inflation expectations in the US, measured by the University of Michigan Surveys of Consumers, were revised slightly down to 4% in August 2026 from the preliminary estimate of 4.3% and below July's 4.2%. The reading marked a third straight monthly decline and the lowest level since March. Longer-run inflation expectations, measured over a five-year horizon, held at 3.3% for a third consecutive month, in line with the earlier estimates.
2026-08-28
US Year-Ahead Inflation Expectations Inch Higher
Year-ahead inflation expectations in the US, measured by the University of Michigan Surveys of Consumers, inched higher to 4.3% in August of 2026 from 4.2% in the previous month, according to a preliminary estimate. The result was mostly owed to the impact of higher energy prices as the war in Iran limited oil and fuel supply from the Middle East. Longer-run inflation expectations, measured by expectations of inflation in a five-year outlook, were at 3.3% for the third month.
2026-08-14