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MNI BRIEF: Price Views Increase For 1st Time Since Oct- NY Fed

U.S. consumers' short-term inflation expectations rose for the first time since October according to a New York Fed Survey, with the share of households reporting it's harder to obtain credit than a year ago reaching a series high.

Median inflation expectations for the year ahead increased 0.5ppt to 4.7%, while at the three-year-ahead horizon expectations increased 0.1ppt to 2.8%, the New York Fed said. However, the median expectation at the five-year-ahead horizon decreased 0.1ppt to 2.5%. Expectations about home price growth climbed 0.4ppt to 1.8%, but remained below pre-pandemic levels.

Median household spending growth expectations increased to 5.7% in March from 5.6% in February, the first increase in the series since October 2022. (See: MNI INTERVIEW: Fed Not Done Hiking Despite Bank Pain-Cecchetti)

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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