upset shopper prices
  • One year inflation 3.0% vs 3.0% prior
  • Three year inflation expectations 2.7% vs 2.4% prior
  • Five year inflation 2.9% vs 2.5% prior (highest since August)
  • Expected home price increase 3.0% vs 3.0% prior
  • Expected year-ahead rent lowest since Dec 2020
  • Consumers steady on expected income and earnings gains in Feb

The rise in 3-year and 5-year inflation might get a few Fed members concerned but it looks more like the dip down in January was a blip. That may also correspond with gasoline prices, though you would think that would show up more in the 1-year number.

3 year inflation
3 year inflation expectations