US Consumer Inflation Outlook Fell Slightly, Fed Survey Shows
- Outlook for jobs improves in NY Fed study, income seen steady
- Consumers more upbeat on food, gasoline price outlook
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Households’ inflation expectations declined slightly, the outlook for personal income held steady and workers are feeling more confident about the job market, according to a Federal Reserve Bank of New York survey.
Inflation expectations dropped by 0.1 percentage point to 2.9% over the next year, by 0.2 percentage point to 2.5% over the next three years, and by 0.1 percentage point to 2.8% over a five-year period, according to the survey released Tuesday. The one-year outlook was the lowest since October 2020.