What do US consumers think about future inflation?

Consumer price inflation continued to accelerate in January 2025. In his own inimitable way, President Trump blamed this on his predecessor who was still in office until 20 January: BIDEN INFLATION UP! Next month, if inflation fails to moderate, another culprit will have to be found. Media space is flooded with daily announcements of trade tariff increases. The markets are starting to tire of these emphatic, shifting and not always credible threats. Households will realise soon that these measures, if they are effectively implemented, risk increasing the price of their consumer basket. The Fed is durably in a wait-and-see position.