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One-year-ahead inflation expectations in the United States, as measured by the University of Michigan survey, rose to a seven-month high of 4.7% in April 2026, up from 3.8% in March and just below the preliminary reading of 4.8%. At the same time, the five-year inflation outlook was revised slightly higher to 3.5%—the highest level in six months—from an earlier estimate of 3.4% and above March’s 3.2%.
