US consumer confidence drops in August

The problem here is that the UoM Inflation Expectations 12 months from now are so meaningless that they should not be used as an economic indicator of anything.

The same is true to a smaller extent for he UoM Consumer Confidence.

The popular explanation is that the consumer knows what is happening in the economy when he/she is at the supermarket checkout counter.

The truth is that this is an economic gobbledygook. The consumer has no way to judge the economy from his/her supermarket bill. Like the customer before me at the checkout counter who was paying $93.00 and said: "This would have cost $50 a year ago." The knowledge of economics and the mathematics of inflation be damned.

They just believe what they are told by the pundits, "experts" and TV talking heads who have frequently other motives, such as to keep the listeners at the edge of their seat as the advertising revenue depends on the number of listeners.

As for the inflation expectations in 12 month: I am an economist and follow economic data every day. If I am asked the same question I would not know the answer because I have no data and I am not clairvoyant. But various "experts" will freely pontificate on this issue not based on any knowledge but solely based on their belief and faith frequently colored by political proclivities and a bias.