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NY Fed Survey of Consumers Shows Decline in Inflation Expectations
U.S. households’ inflation expectations have declined from a month ago, the New York Federal Reserve said Tuesday. The latest Survey of Consumer Expectations found that median inflation expectations decreased by 0.2 percentage points to 3.0% at the one-year-ahead horizon and were unchanged at 3.0% and 2.6%, respectively, at the three-year- and five-year-ahead horizons.
Year-ahead expectations about households’ financial situations improved in June, with a larger share of households expecting a better financial situation and a smaller share of households expecting a worse financial situation a year from now. Similarly, a smaller percentage of respondents predicted that obtaining credit will be harder in a year.
The mean perceived probability of losing one’s job in the next 12 months decreased by 0.8 ppt to 14.0%, the lowest level in six months. The decrease was broad-based across age and education groups, according to the New York Fed.
- ◦Economy
