NY Fed: Consumer Inflation Expectations Ease as Tightening Pinches Wallets

A person shops in a supermarket as inflation affected consumer prices in New York on June 10, 2022. Andrew Kelly/Reuters

U.S. consumer inflation expectations declined across the board in August, a new central bank report found.

According to the latest Survey of Consumer Expectations (SCE) from the Federal Reserve Bank of New York, inflation expectations one year out fell to 5.7 percent last month from 6.2 percent in July. Consumer expectations for three- and five-year horizons dropped to 2.8 percent and 2 percent, respectively.