3 year inflation expectations falls to 2.88%. Lowest since February

The New York Fed consumer survey is showing:

  • one year inflation expectations holding at 2.98% in July. This is the straight month that level
  • the three-year inflation expectations fell to 2.88% in July. This was the lowest level since February
  • median one-year earnings growth outlook falls but expected household income growth rises in July
  • expectations for higher taxes rise for 5th straight month in July

The New York Fed survey is done by a 3rd party that sources a rotating panel of about 1200 household heads