🇺🇸UMich Inflation Expectations Drop to 5.0% From Peak 5.4%

• UMich consumer inflation expectations reading dropped to 5.0%, the August preliminary data showed

• Consumer sentiment jumped to 55.1, off the all-time lows of 50.0 seen in June

• The 5-year inflation survey ticked higher to 3.0% from 2.9%