New York Fed survey: U.S. consumers have mixed inflation expectations and household financial conditions are mixed
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2025-01-14 07:02 6,613
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Golden Finance reported that according to a survey released by the New York Federal Reserve on Monday, in December, U.S. consumers’ expectations for the path of inflation showed a mixed trend, and at the same time, their concerns about households’ ability to repay debts increased significantly. The New York Fed noted in its latest consumer expectations survey that respondents expected inflation to remain at 3% a year from now. It is worth noting that the expectation of price pressure in three years has climbed to 3% from 2.6% in November; while the expectation of price pressure in five years has dropped from 2.9% in November to 2.7%. In addition, the survey also revealed that uncertainty about the inflation outlook has increased in one- and three-year forecasts, although it has declined in five-year forecasts. In terms of various price expectations, the survey showed that food price expectations have increased, but expectations for other key categories have declined, with gasoline price expectations hitting the lowest level since September 2022. The expected increase in house prices is basically stable at 3.1%. Not only that, but the New York Fed survey also found that households' views on their financial situation are equally mixed. While more respondents were optimistic about their personal finances, they also said they expected less revenue and earnings growth going forward. At the same time, consumers have different views on the prospects of the job market.