Silver Sends a Signal

Details of the latest consumer sentiment report from the University of Michigan, for the month of November 2025: • Final Oct was 53.6 • Current conditions 52.3 vs 59.2 expected ...

The Federal Reserve Bank of New York’s Center for Microeconomic Data today released the October 2025 Survey of Consumer Expectations, which shows that households’ inflation expectations decreased at the short-term horizon and remained unchanged at the medium- and longer-term horizons. Unemployment rate and job finding expectations worsened, while job loss expectations slightly improved. Spending and household income growth expectations remained largely unchanged. Perceptions and expectations about credit availability improved, but respondents were somewhat less optimistic about their future household financial situation. The survey was fielded from October 1 through October 31, 2025. The main findings from the October 2025 Survey are: Inflation Median inflation expectations decreased by 0.2 percentage point to 3.2% at the one-year-ahead horizon in October. They were unchanged at the three-year- (3.0%) and five-year-ahead (3.0%) horizons. The survey’s measure of disagreement across respondents (the difference between the 75th and 25th percentiles of inflation expectations) increased at all horizons. US NY Fed 1-Year Inflation Expectations Oct: 3.2% (prev 3.4%) - 3-Year Inflation Expectations: 3.0% (prev 3.0%) - 5-Year Inflation Expectations: 3.0% (prev 3.0%) NY FED: OCTOBER EXPECTATION OF FUTURE FINANCIAL SITUATION DECLINED