New York Fed: YoY Inflation Expectations Fall to 5% in December

The Federal Reserve Bank of New York monthly survey on consumer expectations showed on Monday that US consumers’ year-on-year inflation expectations eased to 5% in December, from 5.2% in October.

Other details in the release showed that three-year inflation expectations were unchanged at 3% and five-year inflation expectations rose to 2.4% from 2.3%.

Median household income growth expectations rose 0.1 percentage points to 4.6% in December, a new series high,” the New York Fed said in its publication, which noted that “the median household spending growth expectations fell sharply to 5.9% from 6.9% in November. “The decline was across all age and income groups.”

Market reaction

The Dollar Index remains under bearish pressure and was last seen down 0.8% on the day to 103.05.

Source: Fx Street

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