Consumers' view of short-term inflation dipped in the past month, but home price and spending growth expectations "fell to their lowest levels since the inception of the survey," according to the Survey of Consumer Expectations, released by the Federal Reserve Bank of New York on Monday.
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Regarding inflation, one-year expectations dipped to 2.8% from 2.9% and three-year held steady at 3.0%.
Median home prices dropped to 3% from 3.4%. The 2014 average was 3.8%.
Median household spending expectations declined to 3.8% from 4.1%.
Consumers see gas price growth in the next year at 8.7%, up from 4.7% last month.
Consumers see earnings rising 2.2% in the year, off from 2.5% in the prior month's survey.
