- 3 year inflation seen at 2.7% vs 2.9% prior
- 5-year inflation seen at 2.5% vs 2.4% prior
- Home price rise 1.1% vs 1.3% prior
- Expected household income +3.3% vs +4.6% prior
- Spending +5.7% vs 5.9%
The inflation numbers are a mixed bag but what stands out is the drop in expected income growth. That's the largest drop in the short history of this survey and will be welcome by policymakers worried about a wage-price spiral.
