Americans think inflation will rise 4.2% in next year
The numbers: Consumer sentiment rose slightly at the end of October, but higher gas prices left them more worried about inflation.
The index had touched a nearly two-year high in July before retreating. A sharp decline recently in the stock market has added to consumer angst. Key details: A gauge that measures what consumers think about the current state of the economy rose to 70.6 from 66.7 in early October.Americans think inflation will average 4.2% in the next year compared to 3.8% earlier in the month and 3.2% in September. Renewed worries about inflation largely reflect higher gas prices.Big picture: The economy is still growing strongly despite stubbornly high inflation and rising interest rates.
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