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New York Fed Says 1-Year US Inflation Expectations Rose to 3.7%, Highest Since Sept. 2023
JH Kim
Summary
- The New York Fed said June inflation expectations for the next year rose to 3.7%, the highest since September 2023.
- Three-year inflation expectations rose to 3.3% from the previous month, while five-year inflation expectations were unchanged at 3.0%.
- Households viewed their personal finances and the labor market outlook more positively than before, while expectations for higher gasoline prices eased, the survey showed.
Forecast Trend Report by Period
US consumers' short-term inflation expectations increased in June, according to the New York Federal Reserve.
The New York Fed said on July 7 that 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 also took a more positive view of their personal finances and the labor-market outlook than before. Expectations for higher gasoline prices eased, the survey showed.
JH Kim
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