Only one in 12 Americans now expects their income to grow faster than inflation over the next year, a sharp drop from nearly one in five at the end of 2024, according to new data that suggests households are increasingly resigned to rising prices.
'Across all consumers, only 8% expect their income growth to exceed inflation in the year ahead, down from 18% in December 2024,' Joanne Hsu, director of the University of Michigan's Surveys of Consumers, said.
