People shop at a grocery store in New York City on March 12, 2025. Samira Bouaou/The Epoch Times
Near-term inflation expectations declined in June while Americans reported greater confidence about their finances and job prospects, according to a new report from the Federal Reserve Bank of New York.
The New York Fed’s Survey of Consumer Expectations, released on July 8, showed median inflation expectations fell by 0.2 percentage point to 3.0 percent for the year ahead. Expectations for inflation three years out remained at 3.0 percent, while five-year expectations held at 2.6 percent.
