Consumer expectations were little changed in October, according to the Survey of Consumer Expectations, released by the Federal Reserve Bank of New York on Monday.
Median inflation expectations grew to 2.6% from 2.5% for a one-year period and stayed 2.6% for a three-year horizon.
Turning to labor, the expected earnings for one-year gained to 2.1% from 2.0%, The mean perceived probability of losing one's job in the next 12 months fell to 14.0% from 16.3%, while the chances of voluntarily leaving a job slipped to 22.3% from 22.8%. The probability of finding a job, if one lost his/her current job) was virtually unchanged at 54.9%.
Median one-year ahead home prices are expected to grow 3.2%, within the range seen in the past year, the Fed said.
Median household spending expectations slid to 3.2% from 3.7%, below its 3.5% average for the year. Income growth expectations dipped to 2.5% in October from 2.6% the prior month.
Consumers see gas price growth in the next year at 4.8%, down from 5.0% last month.
