The Federal Reserve Bank of New York's latest Survey of Consumer Expectations revealed on Monday that median inflation expectations at the one-year horizon rose to 3.4% from 3.2%, as reported by Reuters.
Additional takeaways
"Median three-year inflation expectations remained unchanged at 3.1%."
"Median year-ahead expectations for home prices and rent price growth increased to new series highs for survey launched in 2013."
"Median one-year ahead expected change in gas prices dropped to 9.2% in April, from a series high of 9.9% in March."
"Median expected household income growth fell to 2.4% in April from 2.8% in March."
"Median household spending growth expectations retreated slightly to 4.6% in April, driven by a decline among households with income above $100,000."
Market reaction
The US Dollar Index showed no immediate reaction to this report and was last seen losing 0.1% on a daily basis at 90.14.