Another yucky University of Michigan inflation expectations reading Year-ahead inflation expectations jumped to 4.9% from 4.3%. Three consecutive months of unusually large increases of 0.5 percentage points or more. This month’s rise was seen across all three political affiliations. Long-run inflation expectations surged to 3.9% in March from 3.5%. (Note: the survey has recently switched to online only, which could add to volatility) This was the largest month-over-month increase seen since 1993, stemming from a sizable rise among Independents, and followed an already-large increase in February.