New York Fed Says US 1-Year Inflation Expectations Rise to 3.9%, Highest Since May 2023
JH Kim
Summary
- The Federal Reserve Bank of New York said consumers’ one-year inflation expectations for September rose 0.3 percentage point from a month earlier to 3.9% from 3.6%.
- Three-year inflation expectations edged up to 3.3% from 3.2%, while five-year inflation expectations held steady at 3.0%.
- Households expect the pace of increases in spending and commodity prices to accelerate, while taking a more negative view of their household financial situation and current access to credit.
Forecast Trend Report by Period
Short-term inflation expectations among US consumers rose sharply. Expected inflation over the next year climbed to 3.9%, the highest level since May 2023.
The Federal Reserve Bank of New York said on Oct. 7 that consumers’ one-year inflation expectations for September rose 0.3 percentage point from a month earlier to 3.9% from 3.6%.
Three-year inflation expectations edged up to 3.3% from 3.2%. Five-year inflation expectations were unchanged at 3.0%.
Households expect spending and commodity prices to rise faster in the months ahead. At the same time, they took a more negative view of their future financial situation and current access to credit.
JH Kim
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