Consumer expectations on inflation "shows a slight uptick in median three-year ahead inflation expectations," according to the Survey of Consumer Expectations, released by the Federal Reserve Bank of New York on Monday.
Median inflation expectations held at 3.0% for a one-year period and gained to 3.0% from 2.9% for a three-year horizon, the highest reading since July 2015.
Inflation uncertainty fell for both the one-year and three-year horizons.
Turning to labor, the expected earnings for one-year slid to 2.0% from 2.4%. The mean perceived probability of losing one's job in the next 12 months declined to 15.0% from 15.3%, while the chances of voluntarily leaving a job slipped to 21.5% from 21.7%. The probability of finding a job, if one lost his/her current job) fell to 56.0% from 56.4%.
Median one-year ahead home prices are expected to grow 3.1%, off from 3.3% last month, within the range seen recently, the Fed said.
Median household spending expectations climbed to 3.2% from 3.1%. Income growth expectations increased to 2.8% in February from 2.6% the prior month.
Gas price change expectations fell to 4.4% from 5.1%.
