Consumer Inflation Expectations Ticked Down 0.1% to 3.6%

The Federal Reserve Bank of New York's Center for Microeconomic Data released its July 2026 Survey of Consumer Expectations, which showed a decrease in short-term inflation expectations and mixed labor market outcomes.

Median inflation expectations at the one-year-ahead horizon decreased by 0.1 percentage point to 3.6%, while three- and five-year-ahead horizons remained unchanged at 3.3% and 3.0%

In contrast, gas price growth expectations rebounded partially after their sharp decline in June.