The Federal Reserve Bank of New York's Center for Microeconomic Data revealed on Monday that United States consumers' median one-, three-, and five-year-ahead inflation expectations came in at 5.2%, 3% and 2.3%, respectively, in November.
In comparison to the New York Fed's previous monthly survey, the short-term inflation expectations were down 0.7 percentage points, while the expected inflation rates across the medium- and long-term both decreased by 0.1 percentage points.
"Home price growth expectations continued to decline. Labor market expectations strengthened, while household income growth expectations increased to a new series high," the latest report showed.
