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MNI BRIEF: US Year-Ahead Price Expectations Hit Record-NY Fed

(MNI) Washington

Expectations for near-term inflation spiked but a decline in medium-term and long-term, New York Fed survey shows.

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.

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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.

Keep reading...Show less