Inflation Expectations Fall But Most Americans Say They Are Worse Off Than A Year Ago

  • by:
  • Source: Breitbart
  • 08/08/2022
Despite a sharp decline in inflation expectations, U.S. households remain pessimistic about their financial situation, data from the Federal Reserve Bank of New York showed Monday.

The median expectations for one- and three-year-ahead inflation both declined significantly. The median one-year expectation for inflation fell to 6.2 percent, down from 6.8 percent in June. The three year median expectation dropped to 3.2 percent from 3.6 percent.

The New York Fed said that the decreases were broad-based across income groups, but largest among respondents with annual household incomes under $50k and respondents with no more than a high school education.

Median five-year ahead inflation expectations also declined to 2.3 percent from 2.8 percent in June. After being stable at 3.0 percent during the first three months of the year, the series has been trending down since.
Joe Biden by Gage Skidmore is licensed under Flickr CC BY-SA 2.0
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