NY Fed Survey: Near-Term Inflation Expectations Hit New High
U.S. consumers evidently don’t share the optimism of Federal Reserve officials that current inflation pressures will prove short-lived. The New York Fed’s latest Survey of Consumer Expectations, released Monday, showed that median inflation expectations increased 0.8 percentage points in June to 4.8% at the one-year horizon, the highest reading since the SCE was launched in 2013.
While the longer-term inflation outlook remained unchanged from May at 3.6%, CNBC reported that it’s still well above the 2% level that the Fed considers healthy for a growing economy.
In other SCE metrics, the consumer outlook is mostly upbeat. Expectations that unemployment will be higher a year from now decreased to 30.7%, a new low.
Conversely, expectations rose in June for household income growth and growth in household spending. The latter reached a new high for the survey with June’s median figure of a 5.2% increase in spending over the next year.
Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces.
Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications.
Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).
CRE courses for CE credits
Get CE course credits, centered around all things CRE. View our courses today!