Americans Expect Inflation to Go Higher, Economy to Get Worse: University of Michigan Poll

A man arranges produce at Best World Supermarket in the Mount Pleasant neighborhood of Washington on Aug. 19, 2022. Sarah Silbiger/Reuters

U.S. citizens are expecting prices to keep rising and are worried about the economy deteriorating further, according to the latest Surveys of Consumers by the University of Michigan.

The median expected year-ahead inflation rose to 5.1 percent in October from 4.7 percent in September, according to the preliminary survey results report. The view that inflation would rise was consistent across income, age, and education groups.