US consumers’ long-term inflation expectations jumped to the highest since 2008 on concerns about potential tariffs from the incoming Trump administration.

U.S. consumer confidence clouded over a little this month, after views of the economy weakened on expectations of higher inflation, as President-elect Donald Trump prepares to take office proposing tax cuts and new import tariffs.

Americans’ expectations for overall inflation over the next year jumped to 3.3% in January from 2.8% in the prior month, according to the University of Michigan’s gauge of consumer sentiment.

India's consumer price inflation is expected to have dropped to 5.3 per cent in December, driven by a slowdown in food price increases, according to a Reuters poll of economists. This reduction in inflation fuels expectations of a potential interest rate cut by the Reserve Bank of India (RBI) next month,