NY Fed: Year-ahead expected inflation drops to 3.5% in July, lowest since April 2021
|The Federal Reserve Bank of New York's monthly Survey of Consumer Expectations showed on Monday that the US consumers' one-year inflation expectation dropped to the lowest level since April 2021 at 3.5% in July from 3.8% in June.
Key takeaways
"Three year-ahead expected inflation at 3% in July vs 2.9% in June."
"Five-year ahead expected inflation at 3% in July vs 2.9% in June."
"Survey finds retreating inflation expectations across a number of categories."
"July expected home price rise moves to 2.8% from June’s 2.9%."
"July expected rent price increase lowest since January 2021."
"Survey respondents report better personal financial situations in July."
Market reaction
The US Dollar Index showed no immediate reaction to this report and was last seen rising 0.3% on the day at 103.15.
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