Consumer inflation expectations in April increased at the short- and long-term horizons but declined at the medium-term, according to the Federal Reserve Bank of New York’s Survey of Consumer Expectations released today. Median inflation expectations increased from 3% in March to 3.3% in April at the one-year horizon. Expectations decreased from 2.9% to 2.8% at the three-year horizon, but increased from 2.6% to 2.8% at the five-year horizon.
Median expected growth in household income declined by 0.1 percentage point to 3% in April. Median household spending growth expectations increased by 0.2 percentage points to 5.2%. Perceptions of credit access compared to a year ago improved with a smaller share of respondents reporting tighter conditions compared to a year ago. The average perceived probability of missing a minimum debt payment over the next three months remained unchanged at 12.9%.
