According to the latest survey by the New York Fed, the Median one-year inflation expectations rose to 6.0% in November from 5.7% in October. Three-year average inflation expectations fell to 4.0% from 4.2%. Uncertainty regarding future inflation results increased both in the short and medium term, and both teachings are at their highest levels since the survey was launched in 2013.
Meanwhile, Median expected one-year earnings growth fell to 2.8% in November from 3.0% in October. That means consumers expected inflation over the course of the next year to exceed their earnings growth by 3.2%, the widest gap since the survey was launched. The expected one-year median increase in home prices decreased to 5.% from 5.7%.
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