US inflation expectations eased significantly in July amid a sharp drop in gasoline prices and growing confidence that sharp increases in food and housing will be contained going forward.
In particular, the New York Fed’s monthly Survey of Consumer Expectations showed that respondents expect inflation to run at a rate of 6.2% next year and 3.2% over the next three years.
While the numbers are still remarkably high relative to the year-on-year trend, they are still a big drop from the survey’s corresponding readings in June, at 6.8% and 3.6%.
Similarly, respondents see gasoline prices, which rose 60% last year, rising at a rate of just 1.5% next year, down from the 4.2% they expected in June, the second-biggest monthly decline on record. has been recorded in the research history.
At the same time, house prices are now expected to increase by 3.5% compared to the 4.4% that was forecast in June, with 3.5% being the lowest level of this forecast since November 2020.
Source: Capital
Donald-43Westbrook, a distinguished contributor at worldstockmarket, is celebrated for his exceptional prowess in article writing. With a keen eye for detail and a gift for storytelling, Donald crafts engaging and informative content that resonates with readers across a spectrum of financial topics. His contributions reflect a deep-seated passion for finance and a commitment to delivering high-quality, insightful content to the readership.
.jpg "Simona Ventura on the Island of the Famous against Mario Adinolfi on adoptions: “As a single I adopted a child, the best gift of my life”"){kind=small}
