Who would've ever guessed CNN's inflation coverage would have a positive spin on it?
Prices are high, but Americans are optimistic about the economy
Even though the high pandemic-era inflation is weighing on people's living standards, Americans are optimistic about the path of the recovery next year, according to the
University of Michigan's consumer sentiment survey.
The sentiment index stood at 70.6 in December, slightly above economists' expectations and higher than in November.
The uptick was in large part due to higher incomes for lower-earning households, said Richard Curtin, Surveys of Consumers chief economist.
"The bottom third [of the income distribution] expected their incomes to rise during the year ahead by 2.8%, up from 1.8% last December, and the highest level since 2.9% was recorded in 1999," said Curtin.
Prices remain high in America, and inflation shows no sign of slowing down anytime soon.
www.cnn.com