Consumer inflation expectations in August ticked up at the short-term horizon and remained unchanged at the medium- and longer-term horizons, according to the Federal Reserve Bank of New York’s most recent Survey of Consumer Expectations. Median inflation rose 0.1 percentage point to 3.2% at the one-year-ahead horizon and held steady at 3% for the three-year-ahead horizon and 2.9% at the five-year-ahead horizon.
The median expected growth in household income remained unchanged for the second consecutive month at 2.9% in August, according to the New York Fed. Perceptions of credit access compared to a year ago improved, with a smaller share of households reporting it is harder to get credit. The average perceived probability of missing a minimum debt payment over the next three months increased by 0.8 percentage points to 13.1%.
