June 30, 2023
(press release)
–
Final Results for June 2023 Read our April 28th report, Confidence in Financial Institutions. Year-ahead inflation expectations receded for the second consecutive month, falling to 3.3% in June from 4.2% in May. The current reading is the lowest since March 2021. Long-run inflation expectations were little changed from May at 3.0%, again staying within the narrow 2.9-3.1% range for 22 of the last 23 months. These expectations remained elevated relative to the 2.2-2.6% range seen in the two years pre-pandemic.
Jun
May
Jun
M-M
Y-Y
2023
2023
2022
Change
Change
Index of Consumer Sentiment
64.4
59.2
50.0
+8.8%
+28.8%
Current Economic Conditions
69.0
64.9
53.8
+6.3%
+28.3%
Index of Consumer Expectations
61.5
55.4
47.5
+11.0%
+29.5%
Next data release: Friday, July 14, 2023 for Preliminary July data at 10am ET
Surveys of Consumers Director Joanne Hsu
Consumer sentiment rose 9% this month, a consensus improvement across all demographic groups. The year-ahead economic outlook soared 28% over last month, and long-run expectations rose 11% as well. Overall, this striking upswing reflects a recovery in attitudes generated by the early-month resolution of the debt ceiling crisis, along with more positive feelings over softening inflation. Views of their own personal financial situation were unchanged, however, as persistent high prices and expenses continued to weigh on consumers.
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