Fed Survey Shows July Inflation Expectations Lowest Since March
- Expected inflation among people under 60 falls to record low
- Consumers expect household income and spending to grow faster
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American consumers tempered their outlook for inflation last month as a gauge of expectations declined to near the lowest level since the series began in 2013, according to a survey by the Federal Reserve Bank of New York.
The median response of roughly 1,200 people taking part in the national survey showed an expected inflation rate three years ahead of 2.5 percent in July, down from the 10-month high of 2.86 percent recorded in June, the New York Fed said Monday.