According to the latest Survey of Consumer Expectations of the Federal Reserve Bank of New York, inflation expectation declined in August and consumers were less optimistic about the economy and their household financial situation.
“Expectations for one year ahead inflation, home prices changes, and changes in the price of medical care and rent all reached new series lows. Expectations about employment, growth in earnings, spending, income, and household financial situation were generally less optimistic,” NY Fed noted in its press release.
The US Dollar Index largely ignored NY Fed’s findings and was last up 0.22% on the day at 98.22. Below are some additional takeaways from the publication.
“Median expected household income growth declined for the second consecutive month, from 2.9% in July to 2.7% in August.”
“Median one-year ahead expected earnings growth fell 0.1 percentage points to 2.3% in August, below the 12-month trailing average of 2.5%.”
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