NY Fed inflation expectations ease modestly in the short term
The New York Fed Survey of Consumer Expectations shows that households’ inflation expectations decreased slightly over the short-term horizon and remained unchanged at the medium and longer-term horizons. One-year inflation expectations eased from 3.7% in June to 3.6% in July
The New York Federal Reserve's survey of consumer expectations indicates a slight decrease in households' inflation expectations over the short term, with little change in the medium and longer term. One-year inflation expectations dropped from 3.7% in June to 3.6% in July. Over the next three years, households anticipate inflation to stay at 3.3%, unchanged since the last report.
In the five-year outlook, inflation is expected to remain at 3%, consistent with the previous release. The survey also revealed that gas price growth expectations slightly rebounded after a significant drop in June. Labor market expectations were mixed, with unemployment and job loss expectations worsening, while job finding expectations improved marginally.
The US Dollar Index (DXY) is currently around 99.60, showing minimal change following the release of the survey.
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