US Medium-Term Inflation Expectations Lowest in 11 Years of Data
- New York Fed consumer survey shows mixed views on labor market
- Results support officials seeking confidence to begin easing
People shop for groceries in Rosemead, California.
Photographer: Frederic J. Brown/AFP/Getty ImagesThis article is for subscribers only.
US consumer expectations for inflation over the medium term fell to the lowest level since at least 2013, a Federal Reserve Bank New York survey showed.
Expected inflation three years ahead dropped to 2.35% in January, the lowest on record in nearly 11 years of data, according to results of the New York Fed’s monthly Survey of Consumer Expectations published Monday. Median responses for expected inflation one year ahead and five years ahead, at 3% and 2.5%, respectively, were unchanged from the month before.