Consumers’ view of inflation was fairly stable in the past month, according to the September Survey of Consumer Expectations, released by the Federal Reserve Bank of New York on Tuesday.
The survey found “Inflation expectations, as well as median one-year ahead expected growth in the costs of several commodities (food, housing, medical, college education) are all at or near their lowest levels since the start of the survey in June 2013,” according to the Fed.
Regarding inflation, one-year expectations dipped to 2.7% from 2.8%, while three-year inflation also slid to 2.8% from 2.9%
Median one-year ahead home prices are expected to grow 3.1%, up from 3.0% last month.
Median household spending expectations slipped to 3.2% from 3.5%, its lowest reading.
Consumers see gas price growth in the next year at 3.8%, up from 3.2% last month.
Earnings growth expectations fell to 2.2% from 2.5%, while job separation expectations increased to 22.4% from 20.8%, according to the survey.
