The year-ahead inflation expectations in the United States, as compiled by the survey of the University of Michigan, rose for the second month to 4.9% in August 2025 from 4.5% in July, which was the lowest in five months, according to a flash estimate. In the meantime, the five-year outlook also accelerated for the second month to 3.9% in August, up from 3.4% in the preceding month.