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July US Median Inflation Expectations Decelerate for Short Term, Unchanged for Medium Term, According to NY Fed Survey

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Consumer expectations for one-year US inflation growth decelerated to a 3.6% gain in July from a 3.7% gain in the previous month, according to a survey released by the New York Federal Reserve Bank on Friday.

The median inflation expectations remained at a 3.3% gain for the three-year period and remained at a 3.0% gain for five years ahead for the eleventh straight month.

The median inflation uncertainty slowed to 2.7% from 2.9% in the one-year horizon but remained at a 2.8% for the three-year outlook.

Median home price change expectations remained at 3.2% while home price uncertainty remained at 3.3% increase in the previous month.

The median one-year expectations commodity prices growth rose for gas and cost of college education, fell for medical care, rent and gold, but was unchanged for food.

Earnings growth expectations remained at 2.8%, while earning growth uncertainty fell. Expectations for losing a job increased but so did expectations of finding one.

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