New York Fed Says US One-Year Inflation Expectations Rise to 3.7%, Highest Since Sept. 2023

US consumers' short-term inflation expectations increased in June, according to the Federal Reserve Bank of New York.

The New York Fed said one-year inflation expectations rose to 3.7% from 3.5% in May, the highest level since September 2023.

Three-year inflation expectations increased to 3.3% from 3.1%, while five-year inflation expectations were unchanged at 3.0%.

Households were more upbeat about their personal financial situation and the labor market than before. Expectations for higher gasoline prices also eased, the survey showed.