NY Fed: One-year inflation expectations fall
The Federal Reserve Bank of New York reported that median one-year-ahead inflation expectations dropped by 0.3 percentage points to 5.4%, representing the lowest figure since September 2021.
The New York Fed's September 2022 Survey of Consumer Expectations also showed that three-year-ahead inflation expectations rose by 0.1 percentage points to 2.9% and that five-year-ahead inflation expectations were up 0.2 percentage points to 2.2%.
"Household spending expectations fell sharply, posting their largest one month decline since the series' inception in June 2013. Home price growth expectations continued to decline in September and are now at their lowest levels since June 2020. Households' expectations about future credit access one year from now improved somewhat," The New York Fed wrote in the report.