Virginia Consumer Sentiment and Inflation Expectations Report released

SALEM, Va. – Inflation is still top of mind for many Americans, according to the Virginia Consumer Sentiment and Inflation Expectations Report released on Tuesday.

Dr. Alice Kassens, a Roanoke College Economics professor, has been leading the report. She said there’s been changes in Consumer Price Index lately. That number shows how expensive typical household items are.

“That’s now up 3.3 percent from a year ago,” Dr. Kassens said. “In June of 2022, we were at 8.9/9 percent, so we’ve seen price growth slow down but still it’s a positive number, meaning things are still more expensive today than they were a year ago.”

She said on an optimistic note, the job market is looking good for potential job seekers.

“About two and a half job openings for every unemployed person, so there’s certainly many more people looking for workers than there are people looking for work,” Dr. Kassens said.

How people feel about the economy was also measured in the latest report.

Dr. Kassens said positive consumer sentiment is down a bit from last quarter, but overall trending back upwards following 2020. She said there’s one thing that sets Virginians apart.

“Most Americans are more optimistic about this next year, we are most optimistic in Virginia about the coming years, so the long term,” Dr. Kassens said.

To read the full report, click here.

About the Author

Amy Cockerham joined the 10 News team in January 2023.

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