U.S. Inflation Expectations Are Lowest in Years, Fed Survey Shows
- Inflation outlook three years ahead dips to 2.9 percent
- Households see little change in year-ahead earnings growth
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Consumer for inflation three years ahead fell last month to the lowest level in records going back to June 2013, according to a Federal Reserve Bank of New York survey released Monday.
The median respondent to the New York Fed’s August Survey of Consumer Expectations predicted annual consumer price inflation three years hence would be 2.9 percent, down from 3 percent the month before. Median expected inflation a year ahead fell to 2.8 percent from 3 percent, marking the second-lowest response in the history of the survey.