NY Fed Survey Shows Stable Long-Term Inflation Views
One-year inflation views rose to 3.6 percent while long-term expectations held steady. Households see lower gas price hikes despite supply chain disruptions.
The Federal Reserve Bank of New York reported that United States consumers' three-year inflation expectations held steady at 3.1% in April. This long-term stability persists despite one-year inflation forecasts rising to 3.6% from 3.4% in March. Near-term price concerns rose while long-term anchoring held.
### Long-Term Expectations Resist Short-Term Shocks Five-year inflation expectations remained unchanged at 3.0% in April. Households lowered their one-year outlook for gasoline price increases to 5.1%, down from a 9.4% projection in March. Food price expectations also moderated, according to the Survey of Consumer Expectations.
