Fed survey shows inflation expectations match highest on record
Source: Yahoo! Finance
Yahoo Finance
Fed survey shows inflation expectations match highest on record
Emily McCormick · Reporter
Mon, June 13, 2022, 10:00 AM
U.S. households' expectations for inflation over the coming year rose to match the highest recorded level on record in May, according to new data from the New York Fed.
The NY Federal Reserve's Survey of Consumer Expectations released Monday showed consumers in May anticipate inflation will rise at a 6.6% rate over the next year, up from an April reading of 6.3%. May's reading tied with March's print for the highest on record, in data spanning back to June 2013. (1)
Longer-term inflation expectations were slightly more subdued last month, with consumers looking for inflation to average 3.9% over the next three years. This expectation, however, is still well above the Fed's 2% target. These longer-term expectations were unchanged from April.
This data further complicates the job of the Federal Reserve's task to bring down rising prices and prevent expectations from becoming embedded among consumers.
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(1) https://www.newyorkfed.org/microeconomics/sce#/inflexp-2
Read more: https://finance.yahoo.com/news/household-inflation-expectations-ny-fed-may-2022-150038577.html
The source:
https://www.newyorkfed.org/microeconomics/sce#/inflexp-2
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