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MNI is the leading provider
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U.S. consumers said last month they expected slightly lower inflation in a year's time, the New York Federal Reserve said in a report that also showed slightly more pessimism about credit conditions.
The Fed bank's May Survey of Consumer Expectations reported respondents see inflation one year from now at 4.1%, down from 4.4% in the April survey and the lowest since May 2021. Inflation three years from now was seen at 3.0%, compared to 2.9% the previous month, while five years from now it was expected to be at 2.7%, versus 2.6% in the prior month.
The survey also found perceptions of credit access deteriorated slightly. "The share of households reporting that it is more difficult to obtain credit now than a year ago increased, while the share reporting that it is easier declined," the New York Fed said.
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.