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.
Consumer expectations for longer term inflation ticked up in September with three-year-ahead expectations up 0.1ppt to 2.9% and five-year-ahead expectations up 0.2ppt to 2.2%, according to a monthly Federal Reserve Bank of New York survey of consumers published on Tuesday.
However, median one-year ahead inflation expectations fell 0.3ppt to 5.4%, its lowest reading since September 2021, according to the survey. Fed officials have pointed to anchored long-run inflation expectations in moving inflation back to target without having to generate an inordinate amount of slack in the economy. Expectations of home prices declined slightly by 0.1ppt to 2.0%, its lowest reading since June 2020, but expectations for year-ahead gas, food, college education, and rent prices increased. (See: MNI INTERVIEW: Easing Price Expectations Little Comfort-UMich)
Household spending expectations fell sharply from 7.8% to 6.0% in September, posting their largest one month decline since the series’ inception in June 2013, even as median expected growth in household income was unchanged in the month at its series high of 3.5%.
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.