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MNI BRIEF: Consumers Expect Higher Short-Term Inflation-NY Fed

Home price growth expectations reach highest level since July 2022.

USPolicy NewsHomepageCentral Bank NewsFederal ReserveNorth AmericaBriefStoryRegion

Americans’ outlook for inflation was higher last month at the short- and longer-term horizons, while decreasing at the medium-term horizon, according to the Federal Reserve Bank of New York monthly survey of consumer expectations Monday.

The bank found in its April survey that the public sees inflation a year from now at 3.3%, up three tenths from the prior month. The expected level of inflation three years from decreased to 2.8% from 2.9% in March, while five years from now inflation is seen at 2.8% from the prior month’s prediction of 2.6%. (See: MNI INTERVIEW: Fed Will Cut Rates More Sparingly In '24 - Weber)

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Americans’ outlook for inflation was higher last month at the short- and longer-term horizons, while decreasing at the medium-term horizon, according to the Federal Reserve Bank of New York monthly survey of consumer expectations Monday.

The bank found in its April survey that the public sees inflation a year from now at 3.3%, up three tenths from the prior month. The expected level of inflation three years from decreased to 2.8% from 2.9% in March, while five years from now inflation is seen at 2.8% from the prior month’s prediction of 2.6%. (See: MNI INTERVIEW: Fed Will Cut Rates More Sparingly In '24 - Weber)

Keep reading...Show less