US Households Expect Inflation to Stay Above 3 Percent in Year Ahead: New York Fed

Consumers not confident the Federal Reserve will reach 2 percent inflation target.
US Households Expect Inflation to Stay Above 3 Percent in Year Ahead: New York Fed
People shop in a grocery store in Los Angeles on Oct. 12, 2023. Mario Tama/Getty Images
Andrew Moran
Updated:
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U.S. households anticipate inflation will stay above 3 percent in the year ahead, suggesting they doubt the Federal Reserve will hit its 2 percent inflation target, according to a widely watched New York Fed survey.

The New York Fed’s May Survey of Consumer Expectations (SCE), based on responses from 1,300 households, places the median one-year outlook for inflation at 3.2 percent. This is slightly down from the 3.3 percent reading in April.
Andrew Moran
Andrew Moran
Author
Andrew Moran has been writing about business, economics, and finance for more than a decade. He is the author of "The War on Cash."