US Year-Ahead Inflation Views Drop to Lowest Since April 2021
- Consumers’ near-term inflation expectations fell in November
- New York Fed survey showed a deterioration in job market views
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US consumers’ near-term inflation expectations dropped in November to the lowest level since April 2021, according to a Federal Reserve Bank of New York survey released Monday.
Median year-ahead inflation expectations declined for a second month to 3.4%, down from 3.6% in October. Expectations for what inflation will be at the three-year and five-year horizon held steady at 3% and 2.7%, respectively.