Consumer expectations for near-term inflation fell in the US.
The New York Fed has released the results of its April 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 0.3 points to 4.4 percent in April.
In turn, the medium-term inflation expectation for the next 3 years increased 0.1 percentage points to 2.9 percent in April.
In the same period, the long-term inflation expectation for the next five years increased 0.1 percentage points to 2.6 percent.
Expectations of an increase in household spending fell from 5.7 percent to 5.2 percent in April, the lowest value since September 2021. Expectations of an increase in household income also decreased by 0.2 points to 3.1 percent in April.
Although the expected increase in housing prices in this period increased by 0.7 points to 2.5 percent, it reaches the highest value since July of last year. While the expectation of rising costs decreased in food, it increased in energy. Expectations for rising healthcare and rental costs remained unchanged.
APRIL INFLATION IN THE USA WILL BE ANNOUNCED ON WEDNESDAY
According to data announced last month in the US, the Consumer Price Index (CPI) rose 0.1 percent monthly and 5 percent annually in March, below market expectations.
The market expectation for April inflation, which will be announced on Wednesday, is for an increase of 0.4 percent monthly and 5 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.
