Americans' expectations of inflation and home prices haven't changed in the past few months, according to the initial Survey of Consumer Expectations by the Federal Reserve Bank of New York.
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"Expectations of overall inflation have remained stable in recent months, at both the short and medium term horizon," according to the survey. "The median expected year-ahead rate of inflation was 3.1% in December."
House prices are seen growing 3.9%.
The SCE is a nationally representative, internet-based survey of a rotating panel of approximately 1,200 household heads. Respondents participate in the panel for up to twelve months, with a roughly equal number rotating in and out of the panel each month.
