US Inflation, Home Price Expectations Pick Up in NY Fed Survey
- Near-term inflation outlook in April rose to five-month high
- Anticipated home price growth reaches highest since July 2022
An "Open House" sign outside of a home in Washington, DC.
Photographer: Dustin Chambers/BloombergThis article is for subscribers only.
US consumer expectations for inflation and home prices rose in April while perceptions of the labor market weakened, underscoring an uneasy backdrop for household finances and the cost of living.
Consumers expect prices will climb at an annual rate of 3.3% over the next year after hovering around 3% for the past four months, a Federal Reserve Bank of New York survey showed. That marked the highest reading since November. Anticipated home price growth rose at a similar pace — the fastest advance since July 2022.