US consumer sentiment data
- Prior was 98.8
- Expectations 89.5 vs 88.4 prior
- Current conditions 113.3 vs 114.9
- 1-year inflation 2.8% vs 2.7% prior
- 5-10 year inflation 2.5% vs 2.5% prior
Note the rise in 1-year inflation.
As for the headline, it remains very high but the Fed is at the point where it’s skeptical of survey data and wants to see the numbers in the hard data.