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MNI BRIEF: NY Fed Inflation Survey Gives Mixed Readings

The New York Fed's median of one-year-ahead consumer inflation expectations declined for the third consecutive month, falling 0.3ppts to 3.8% in June, the lowest since April 2021. Five-year-ahead expectations rose 0.3ppts to 3%, the highest since March 2022.

Median inflation expectations three years ahead were unchanged at 3.0%. Home price expectations increased for the fifth consecutive month from 2.6% in May to 2.9% in June, the highest reading since July 2022.

Median household spending growth expectations declined from 5.6% in May to 5.2% in June, well below its 12-month trailing average of 6.4%, and the lowest reading since September 2021, the monthly NY Fed report said.

Source: New York Fed

MNI Washington Bureau | +1 202-371-2121 | evan.ryser@marketnews.com
MNI Washington Bureau | +1 202-371-2121 | evan.ryser@marketnews.com

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