Americans’ inflation expectations fall to lowest level in 2 years, NY Fed survey shows – By Megan Henney (FOX Business) / Dec 11, 2023
Americans expect inflation to continue cooling this year, New York Fed survey shows
Americans are feeling more optimistic about the odds that high inflation will continue to cool in the coming months, according to a key Federal Reserve Bank of New York survey published Monday.
The median expectation is that the inflation rate will be up 3.4% one year from now, according to the New York Federal Reserve’s Survey of Consumer Expectations, down from a high of 7.1% recorded in June 2022. It marks the lowest reading since April 2021.
But consumers anticipate that it will take longer for price growth to slow in the longer term, according to the survey, projecting that inflation will hover around 3% three years from now and at 2.7% five years from now.
But consumers anticipate that it will take longer for price growth to slow in the longer term, according to the survey, projecting that inflation will hover around 3% three years from now and at 2.7% five years from now.
