Consumer inflation expectations in April increased 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 Survey of Consumer Expectations.
Median inflation expectations increased by 0.2 percentage points to 3.6% at the one-year-ahead horizon, the New York Fed said. They were unchanged at 3.1% for the three-year-ahead horizon and at 3% for the five-year-ahead horizon in April.
The median expected growth in household income eased slightly from 2.9% to 2.8% in April. Perceptions of credit access compared to a year ago deteriorated, with a smaller share of households reporting it is easier to get credit and a larger 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 receded by 0.9 percentage points to 11.4%, its lowest reading in more than two years.
