NY Fed: US Inflation Expectations Ease Modestly Over Short-Term Horizon

The New York Fed Survey of Consumer Expectations revealed that households' inflation expectations have eased slightly over the short-term horizon. According to the survey, one-year inflation expectations decreased from 3.7% in June to 3.6% in July.

In contrast, medium and longer-term horizons saw no change in household inflation expectations, with the next three years expected to hold at 3.3% and five years ahead still expecting 3% inflation.

The survey also showed that gas price growth expectations partially rebounded after their sharp decline in June.