University of Michigan sentiment (final) for November 61.3 versus 60.6 estimate

<figure data-media-><img src="https://images.forexlive.com/images/Michigan%20sentiment_id_a88576d0-d61e-40bb-8bb0-a99813a60e1e_original.jpg" wrapper-="wrapper-" data-src="https://images.forexlive.com/images/Michigan%20sentiment_id_a88576d0-d61e-40bb-8bb0-a99813a60e1e_original.jpg" /><figcaption><div>Michigan sentiment index</div></figcaption></figure><p><br></p><ul><li>Prior month 63.8</li><li>preliminary estimate 60.4</li><li>University of Michigan sentiment index final&nbsp;61.3 versus 60.6 expected</li><li>Current conditions 68.3 versus 65.7 last month.</li><li>Expectations&nbsp;56.8 versus 56.9 last month</li><li>1 year inflation 4.5% versus 4.4% preliminary. Last month the inflation next reading came in at 4.2%. The highest since April 1 it was at 4.7%</li><li>5 year inflation 3.2% versus 3.2% preliminary. Last month the inflation expectations reading came in at 3.0%.&nbsp;</li></ul><p>Despite the week and expected CPI data last week, the consumer's inflation expectations continue to remain elevated. Oil prices and gasoline prices have come down, but the impact is in the still not being felt in the inflation expectations is that they remain above 3%. The low for the one-year inflation expectation was at 3.2% this year the high was at 4.6%. This month's reading pushes against the high for the year. Perhaps it is the mortgage rates which is prompting consumers to expect higher inflation even if the a vast majority of&nbsp;homeowners&nbsp;refinanced at much lower rates.&nbsp; For new buyers however, higher&nbsp;mortgage rates imply higher prices for housing.&nbsp;&nbsp;</p><p><br></p><figure data-media-><img src="https://images.forexlive.com/images/One%20year_id_beaf266c-2e22-48c0-b624-6e85f31a42a0_original.jpg" wrapper-="wrapper-" data-src="https://images.forexlive.com/images/One%20year_id_beaf266c-2e22-48c0-b624-6e85f31a42a0_original.jpg" /><figcaption><div>One year inflation expectations</div></figcaption></figure><p><br></p><p><br></p>

This article was written by Greg Michalowski at www.forexlive.com.