Consumer inflation expectations in January remained unchanged at the medium- and longer-term horizons, and declined at the short-term horizon, according to the Federal Reserve Bank of New York’s most recent Survey of Consumer Expectations.
Median inflation expectations in January declined by 0.3 percentage points at the one-year-ahead horizon to 3.1% and remained steady at the three-year and five-year-ahead horizons at 3%, the New York Fed reported.
The median expected growth in household income decreased by 0.1 percentage point to 2.9% in January. Expectations for future credit availability deteriorated, with the net share of respondents expecting it will be easier versus harder to obtain credit a year from now decreasing. The average perceived probability of missing a minimum debt payment over the next three months decreased by 1.6 percentage points to 13.7%.
