The Federal Reserve Bank of New York's latest Survey of Consumer Expectations showed on Monday that the US consumers' one-year inflation expectation dropped to its lowest level since January 2021 at 3% in December from 3.4% in November.
Key takeaways
"Expected inflation three years ahead at 2.6% in December vs 3% in November."
"Expected inflation five years ahead at 2.5% in December vs 2.7% in November."
"Median expected home price rise unchanged at 3% in December."
"Expected earnings, spending rises at lowest level since 2021."
"Households less pessimistic on credit access, financial situation
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