MNI BRIEF: NY Fed Survey - Consumers Expect Lower Inflation
Americans in June generally saw easing inflation pressures and decelerating home price increases, according to a monthly survey from the New York Federal Reserve published Monday.
Median one- and five-year-ahead inflation expectations both declined by 0.2 percentage point in June to 3.02% and 2.83%, according to the Survey of Consumer Expectations. The median three-year ahead inflation expectations increased 0.1 percentage point to 2.93%. (See: MNI INTERVIEW: U.S. Consumers Expect More Disinflation - UMich)
Median home price growth expectations decreased to 3.0% from 3.3%, back to the series 12-month trailing average, and median year-ahead expected price changes decreased for all goods in the survey. Median one-year-ahead expected earnings growth increased by 0.3 percentage point to 3.0%, the measure’s highest reading since September.
Source: New York Fed