Year-ahead inflation expectations in the US, measured by the University of Michigan Surveys of Consumers, were revised slightly down to 4% in August 2026 from the preliminary estimate of 4.3% and below July's 4.2%. The reading marked a third straight monthly decline and the lowest level since March. Longer-run inflation expectations, measured over a five-year horizon, held at 3.3% for a third consecutive month, in line with the earlier estimates.