“Median inflation expectations at the one-year horizon remained unchanged at 3.0%, while they increased by 0.1 percentage points at the three-year horizon to 3.0% in August, returning to its June reading,” the Federal Reserve Bank of New York announced in its ‘August 2018 Survey of Consumer Expectations’ report.
Key takeaways from the press release
- Inflation uncertainty remained unchanged.
- Median home price change expectations declined to 3.6% in August from 3.7% in July and 3.9% in June.
- Median one-year ahead earnings growth expectations increased from 2.4% in July to 2.5% in August.
- The median expected household income and the median household spending growth expectations remained unchanged at 2.8% and 3.2%, respectively.
- Perceptions of households’ financial situations compared to a year ago were largely unchanged.
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