Morgan Stanley says American consumers are feeling less anxious about inflation than at any point since early 2022, according to its latest survey. The bank found 56% of respondents now cite inflation as their top concern — down from 60% in August and 63% a year earlier.
- Sentiment toward both the economy and household finances improved in September, with 36% of those surveyed expecting the economy to strengthen, up from 33% the previous month.
- Still, Morgan Stanley warned that tariff-related price pressures could re-emerge as companies regain pricing power, potentially reviving inflation worries later this year.
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The survey’s findings point to a more confident U.S. consumer backdrop, consistent with recent soft-landing narratives.
Reduced inflation anxiety could support spending and risk sentiment, though Morgan Stanley’s tariff warning flags potential upside risks for future CPI readings.
