Consumers in April raised their expectations for price increases both in the near and longer term, fueled by higher inflation in home prices along with fuel and energy, according to a New York Federal Reserve survey released Monday. The central bank’s New York district reported in its monthly Survey of Consumer Expectations that the outlook increased across the one- and five-year horizons as respondents expressed little confidence the Fed will reach its 2% inflation goal anytime soon. On a one-year basis, the expectation increased to 3.3%, up 0.3 percentage point from March and the highest since November 2023. For ... (full story)

The Federal Reserve Bank of New York’s Center for Microeconomic Data today released the April 2024 Survey of Consumer Expectations, which shows that inflation expectations increased at the short-term and longer-term horizons, while decreasing at the medium-term horizon. Home price growth expectations reached the highest level since July 2022. Spending growth expectations also increased. The average perceived likelihood of voluntary and involuntary job separation declined, as did the perceived likelihood of finding a job in the event of a job loss. The main findings from the April 2024 Survey are: Inflation Median ... (full story)