Consumers increased their expectations for inflation, according to the August Survey of Consumer Expectations, released by the Federal Reserve Bank of New York on Monday.
Median inflation expectations grew to 2.7% from 2.5% for a one-year period and rose to 2.8% from 2.5% for a three-year horizon.
Turning to labor, the expected earnings for one-year gained to 2.4% from 2.2%, The mean perceived probability of losing one's job in the next 12 months grew to 15.2% from 15.0%, while the chances of voluntarily leaving a job climbed to 23.4% from 21.0%. The probability of finding a job, if one lost his/her current job) climbed to 53.5% from 53.3%.
Median one-year ahead home prices are expected to grow 3.3%, unchanged from last month.
Median household spending expectations slid to 3.3% from 3.8%.
Consumers see gas price growth in the next year at 4.6%, down from 4.9% last month.
