Inflation & Prices
Wage Growth Expectations Drop Most on Record in NY Fed Survey
A shopper in the bread aisle at a grocery store.
Photographer: Cole Burston/BloombergThis article is for subscribers only.
Americans anticipate income growth to slow and inflation to stay elevated in the Federal Reserve Bank of New York’s survey of consumer expectations.
Median expected growth in household income declined 1.3 percentage point to 3.3% in the January survey, the largest monthly drop in data going back almost ten years, the New York Fed in a report Monday. Views on inflation one year ahead were unchanged at 5%.