Consumers increased their expectations for inflation, but they remain low, according to the April Survey of Consumer Expectations, released by the Federal Reserve Bank of New York on Monday.
Median inflation expectations increased to 2.6% from 2.5% for a one-year period and to 2.8% from 2.5% for a three-year horizon.
Turning to labor, the expected earnings for one-year dipped to 2.4% from 2.5%, toward the upper end of the 1.8%-2.7% range in the survey's history. The mean perceived probability of losing one's job in the next 12 months grew to 15.8% from 14.4%, while the chances of voluntarily leaving a job rose to 23.1% from 20.0%. The probability of finding a job fell 52.9% from 54.3%.
Median one-year ahead home prices are grew to 3.1% from 3.0% last month.
Median household spending expectations climbed to 3.5% from 3.4%.
Consumers see gas price growth in the next year at 6.9%, down from 7.3% last month.
