US consumers expect near-term inflation to fall
The New York Fed has released the results of its February Consumer Expectations Survey.
According to the results of the survey carried out with the participation of approximately 1,300 households, the median short-term inflation expectation for the next 12 months decreased 0.8 percentage points to 4.2 percent in February. This value was the lowest inflation expectation recorded since May 2021.
The medium-term inflation expectation for the next 3 years remained constant at 2.7 percent in February.
INCREASED TO 2.6 PERCENT
In the same period, the long-term inflation expectation for the next five years increased 0.1 percentage points to 2.6 percent.
The expectation of an increase in household spending decreased from 5.7 percent to 5.6 percent in February, taking its fall to the fourth month. Expectations for an increase in household income also fell 0.1 percentage point to 3.2 percent in February.
In this period, the expected increase in house prices increased by 0.3 points to 1.4 percent. Expectations of an increase in the costs of food, energy, health and rent decreased in the same period.
FEBRUARY INFLATION IN THE USA WILL BE ANNOUNCED TOMORROW
According to data released last month in the US, the Consumer Price Index (CPI) rose 0.5 percent monthly and 6.4 percent annually in January, beating expectations.
The market’s expectation for inflation in February, which will be released tomorrow, is for an increase of 0.4 percent monthly and 6 percent annually. (AA)
Source: Sozcu
Andrew Dwight is an author and economy journalist who writes for 24 News Globe. He has a deep understanding of financial markets and a passion for analyzing economic trends and news. With a talent for breaking down complex economic concepts into easily understandable terms, Andrew has become a respected voice in the field of economics journalism.
