The New York Fed's median measure of one-year-ahead consumer inflation expectations declined 0.3ppts in April to 4.4%, a reversal of the prior month's half percentage point increase.
Median inflation expectations increased a tenth at the three- and five-year-ahead horizons to 2.9% and 2.6%. Median home price growth expectations increased by 0.7ppts to 2.5% in April, the highest reading since July of last year, and year-ahead expected gas prices changes increased 0.5ppts, the Survey of Consumer Expectations released Monday showed.
(See: MNI INTERVIEW: Fed Pause Could Make Inflation More Entrenched)
Perceptions and expectations of credit conditions were mixed. Labor market expectations deteriorated with unemployment expectations and perceived job loss risk increasing and job finding expectations decreasing.
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