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of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
U.S. households’ expectations for the near-term future path of inflation increased again to a new series high of 6.8% in June from 6.6% in May, while expectations at the three-year horizon fell to 3.6% from 3.9% the previous month, according to the latest New York Fed survey.
Median five-year ahead inflation expectations, numbers that have been released on an ad-hoc basis since the beginning of the year, declined to 2.8% from 2.9%. Stable at 3.0% during the first three months of the year, the series has trended down slightly but disagreement across respondents in their five-year ahead inflation expectations has been trending up during this period and increased again in June, according to the New York Fed.
Home price growth expectations declined sharply in June to 4.4% from 5.8%, along with year-ahead spending growth expectations. Median year-ahead household spending growth expectations retreated from its series high in May, declining by 0.6ppt to 8.4% but remaining well above its 2021average of 5.0%. Fed officials are eyeing longer-term inflation expectations for signs of a sustained rise, with some former Fed officials and staff telling MNI inflation expectations already look unmoored.
Source: New York Fed
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.