Consumer inflation expectations increased slightly at the short-, medium-, and longer-term horizons in November, the Federal Reserve Bank of New York said in its most recent Survey of Consumer Expectations. Median inflation expectations increased by 0.1 percentage point at all three horizons. One-year-ahead inflation expectations increased to 3%, three-year-ahead inflation expectations increased to 2.6% and five-year-ahead inflation expectations increased to 2.9%.
The median expected growth in household income increased by 0.1 percentage point to 3.1% in November, the New York Fed said. Perceptions of credit access compared to a year ago showed a larger share of households reporting no change and a smaller share reporting it is harder or easier. The average perceived probability of missing a minimum debt payment over the next three months decreased by 0.7 percentage points to 13.2%.
