×
Newsmax TV & Webwww.newsmax.comFREE - In Google Play
VIEW
×
Newsmax TV & Webwww.newsmax.comFREE - On the App Store
VIEW
Skip to main content
Tags: GOV | MARKETS | NORTHAM | TOP | US | WORLD | WWTOP

Consumer Inflation Expectations Hit Eight-Year High in Fed Study

Consumer Inflation Expectations Hit Eight-Year High in Fed Study

Monday, 09 August 2021 11:51 AM

U.S. consumers’ expectations for inflation over the medium term rose to an eight-year high in July, according to a Federal Reserve Bank of New York survey.

The median survey respondent anticipated an inflation rate of 3.7% in three years’ time, the highest since August 2013 and up from 3.6% in June, the New York Fed said Monday. Expectations for inflation over the next year rose to a record 4.8%.

Fed officials follow measures of inflation expectations closely because they believe them to be key determinants of actual inflation. The New York Fed survey results are somewhat at odds with indicators of inflation compensation in financial markets, like the 10-year breakeven inflation rate derived from inflation-protected Treasury bonds, which has moderated since reaching an eight-year high in May.

Consumers polled by the New York Fed said they expected rents to increase 9.8% in the coming year, the highest reading since the survey began in 2013. Expected changes in medical care costs over the next 12 months ticked up to 9.5%, while the expected change in gas prices moderated to 8.1%.

Older Americans and those with incomes below $50,000 reported the sharpest anticipated rise in prices over the medium term, the survey results showed.

Forecasters polled by Bloomberg expect the Labor Department’s monthly report on consumer prices, to be published Wednesday, will show that the annual inflation rate moderated slightly in July after rising to a 13-year high of 5.4% in June.

© Copyright 2021 Bloomberg News. All rights reserved.


Newsfront
U.S. consumers' expectations for inflation over the medium term rose to an eight-year high in July, according to a Federal Reserve Bank of New York survey.The median survey respondent anticipated an inflation rate of 3.7% in three years' time, the highest since August 2013...
GOV, MARKETS, NORTHAM, TOP, US, WORLD, WWTOP, WWTOPAM, WWTOPEU
240
2021-51-09
Monday, 09 August 2021 11:51 AM
Newsmax Media, Inc.
Join the Newsmax Community
Read and Post Comments
Please review Community Guidelines before posting a comment.
 
TOP

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

NEWSMAX.COM
America's News Page
© Newsmax Media, Inc.
All Rights Reserved
Download the NewsmaxTV App
NEWSMAX.COM
America's News Page
© Newsmax Media, Inc.
All Rights Reserved