Inflation & Prices
US Consumers Turn Less Gloomy on Inflation Outlook, NY Fed Says
A shopper at a supermarket in Santa Monica, California.
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US consumers’ short-term inflation expectations fell for a third consecutive month in June, to the lowest level in more than two years, according to a Federal Reserve Bank of New York survey.
Median one-year-ahead inflation expectations declined by 0.3 percentage point to 3.8%, the lowest reading since April 2021. The year-ahead inflation expectations peaked at 6.8% in June last year.