Trial now
AUD

Focus Turns To RBA Minutes

JGB TECHS

(Z1) Bearish Trend Condition

RBNZ

VIEW: ANZ: Heron Now

NZD

RBNZ's Hawkesby Suggests Gradual Hiking Path

Sign up now for free access to this content.

Please enter your details below and select your areas of interest.

The New York Fed's median measures of one-year-ahead and three-year-ahead consumer inflation expectations each jumped 0.3 percentage points in August, both reaching a new high for the series. The year-ahead measure jumped to 5.2%, the tenth consecutive monthly increase, and the three-year-ahead measure hit 4.0%, the third straight move up.

Both increases were broad based across age and income groups, the New York Fed said in a statement in its release of the Survey of Consumer Expectations. Home price growth expectations fell 0.1ppt to 5.9% in August, the third consecutive monthly decline, and food and rent price expectations both moved up.

The survey showed household income growth expectations increasing 0.1ppt to 3.0%, a series high, driven by households at the bottom of the income spectrum. Household spending growth, however, ticked down slightly, but remained above pre-Covid levels. MNI previously reported consumer views are currently more sensitive to incoming news than at other times, heightening risks of upward moves in long run price expectations.