Fed Survey: One-Year Inflation Expectations Hit Highest Level Since May 2023

Deep News01:15

On January 18, 2023, a pedestrian walked past the Federal Reserve Bank of New York building in New York City.

Market inflation concerns intensified in September, with short-term inflation expectations from the Federal Reserve Bank of New York's monthly survey reaching a nearly three-and-a-half-year high.

The central bank's Survey of Consumer Expectations showed that the median expectation for inflation over the next 12 months rose to 3.9%, up 0.3 percentage points from August, marking the highest level since May 2023, when it stood at 4.1%.

At the same time, the survey showed that households' expected spending growth reached 5.5%, also up 0.3 percentage points from the previous month and the highest level since May 2023.

These survey results come as inflation remains well above the central bank's 2% target, with debate continuing over how monetary policy should be adjusted.

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