Consumer inflation expectations in August decreased slightly at the medium-term horizon and remained unchanged at the short- and longer-term horizons, according to the Federal Reserve Bank of New York’s most recent Survey of Consumer Expectations.
Median inflation expectations at the one-year and five-year-ahead horizons were unchanged at 3.6% and 3%, while they decreased at the three-year-ahead horizon by 0.1 percentage point to 3.2%, the New York Fed said.
The median expected growth in household income remained unchanged at 3% in August. Perceptions of credit access compared to a year ago declined, with the net share with the net share of households reporting it is harder to get credit increasing. The average perceived probability of missing a minimum debt payment over the next three months increased by 1.2 percentage points to 13.2%, just above its 12-month trailing average of 12.7%.
