The Federal Reserve Bank of New York’s latest Survey of Consumer Expectations revealed on Monday that median inflation expectations at the one-year and three-year horizons rose to 3.2% and 3.1%, respectively.
“Inflation expectations at both horizons have increased steadily over the past five months and they are now at their highest since mid-2014.”
“Median one-year ahead expected earnings growth decreased 0.2 percentage point in March returning to 2.0%, the level at which it remained between July 2020 and January 2021.”
“The mean perceived probability of losing one’s job in the next 12 months decreased from 14.2% in February to 12.8% in March, the lowest reading in almost three years.”
“The median expected growth in household income increased by 0.4 percentage point to 2.8% in March, the highest level since January of last year.”
The US Dollar Index showed no immediate reaction to this publication and was last seen posting small daily losses at 92.10.