(New York Fed) The median inflation expectations by US consumers on a three-year timeframe rose to 3.7% in July, an uptick from 3.6% the previous month. The expected rate is the highest since August 2013.
The inflation expectation on a one-year horizon was unchanged at 4.8% in July.
Median year-ahead expectations on home price change fell to 6.0% from June’s 6.2%
Median expectations on one year-ahead inflation for food prices remained unchanged at 7.1%, while price change for gas fell by 1.1% to 8.1%.
In the labor market, one-year-ahead expectations of earnings growth increased by 0.3% to 2.9% in July, a new series high. Mean employment expectations rose by 1.0% to 31.7%.
On household finance, expectations of an uptick in income fell by 0.1% to 2.9% in July, although it remained elevated from the pre-pandemic levels in late 2018 and early 2019.
Consumer expectations of higher stock prices 12 months from now fell by 1.2% to 39.0%.
SPY is down -0.11%, DXY is up +0.13%.
