The initial value of the University of Michigan Consumer Confidence Index in October in the United States was 63, a significant decrease from the previous value of 68.1. In addition, inflation expectations have increased, with the inflation rate expected to rise to 3.8% in the next year, a new high since May, with the previous value being 3.2%. The long-term inflation rate expected to rise by 0.2 percentage points to 3% in the next five to ten years. The director of the survey, Xu, stated that almost all groups have experienced setbacks in consumer sentiment, reflecting the continued impact of high prices.