Consumers' view of inflation was at its lowest level in November, according to the Survey of Consumer Expectations, released by the Federal Reserve Bank of New York on Friday.
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"Median inflation expectations at the one and three year horizons declined by 0.3 and 0.1 percentage points to 2.6% and 2.7%, respectively," the survey reported. "The two measures of inflation expectations reached their lowest levels since the inception of the survey in June 2013." The decline in short-term inflation expectations was also the largest in the survey's short history.
Median one-year ahead home prices are expected to grow 3.2%, up from 3.1% last month.
Median household spending expectations climbed to 3.6% from 3.5%.
