In December 2025, the University of Michigan's survey revealed that inflation expectations for the coming year in the United States have declined for the fourth consecutive month, reaching a nearly one-year low of 4.1%, down from 4.5% in November according to preliminary estimates. Concurrently, the five-year inflation forecast has also decreased for the second month in a row, dropping to 3.2% in December, a near one-year low, compared to 3.4% in November.