U.S. consumers' one-year inflation expectations rose to 4.3% in the University of Michigan's preliminary August survey from 4.2% in July, while the five-year outlook held at 3.3%. The year-ahead measure remains well above the 2.3% average seen in the two years before the pandemic, and the five-year reading is also above its pre-pandemic range of about 2.2% to 2.6%, though both are below peaks reached in 2022. The data, released on August 16, 2026, comes as overall sentiment improved modestly and interest rates remained at a 23-year high, leaving the figures closely watched by the Federal Reserve ahead of its next policy meeting and the final August survey release later in the month.