Consumer expectations for near-term inflation rose in the US.

The New York Fed has released the results of its March Consumer Expectations Survey.

According to the results of the survey conducted with the participation of approximately 1,300 households, the median short-term inflation expectation for the next 12 months increased 0.5 percentage points to 4.7 percent in March. Thus, consumer inflation expectations increased for the first time since October 2022.

The medium-term inflation expectation for the next 3 years increased 0.1 percentage points to 2.8 percent in March.

In the same period, the long-term inflation expectation for the next five years fell 0.1 percentage points to 2.5 percent.

Expectations for an increase in household spending increased from 5.6 percent to 5.7 percent in March. The expectation of an increase in household income increased by 0.1 percentage points to 3.3 percent in March.

In this period, the expected increase in house prices increased by 0.4 points to 1.8 percent. Expectations of an increase in the costs of food, energy, health and rent decreased in the same period.

MARCH INFLATION IN THE USA WILL BE ANNOUNCED ON WEDNESDAY

According to data announced last month in the US, the Consumer Price Index (CPI) rose 0.4 percent monthly and 6 percent annually in February, in line with market expectations.

The market expectation for March inflation, which will be announced on Wednesday, is for an increase of 0.2 percent monthly and 5.2 percent annually. (AA)