US Consumer Inflation Expectations Rise as Job Prospects Improve

US consumer inflation expectations rose in July and perceptions of the job market improved, according to a monthly Federal Reserve Bank of New York survey.

Expected inflation for the year ahead ticked up to 3.1%, from 3% in June, the New York Fed said Thursday. Expected inflation three years ahead held steady at 3%, while the estimate for five years ahead jumped to 2.9%, the highest since February.