Short-Term Inflation Expectations Edge Up, New York Fed Survey Finds
Drivers wait to refuel vehicles at a gas station in Richmond, California.
Photographer: David Paul Morris/BloombergUS consumers’ near-term inflation expectations inched higher in April, while the long-term price outlook remained stable, according to a Federal Reserve Bank of New York survey.
US consumers said they see inflation of 3.6% over the next year, up from 3.4% in March, according to the median response in the New York Fed’s monthly Survey of Consumer Expectations, released Thursday. Expectations for inflation in three years and five years were unchanged at 3.1% and 3%, respectively.