The New York Federal Reserve stated Monday in its latest Survey of Consumer Expectations that 1-year inflation expectations decreased from 3.2% to 3% in June.
According to the report, the figure for the 3-year inflation expectations came in at 2.9%, up from 2.8% last month, while for the 5-year declined to 2.8% from 3%.
When it comes to the median household spending growth, the NY Fed said that expectations stood at 5.1%, up 0.1 percentage point. "Perceptions about households' current financial situations deteriorated slightly with more respondents reporting being worse off than a year ago, and fewer respondents reporting being better off," the report added.