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NY Fed survey shows short-term inflation expectations easing

One-year inflation expectations slipped to 3.6% in July, while gas price growth expectations partially rebounded after a sharp June drop.

Reported · Written up by our desk · Major Pairs

The New York Fed Survey of Consumer Expectations showed households’ inflation expectations cooled slightly over the short term, with the one-year measure easing from 3.7% in June to 3.6% in July.

Over the next three years, households continued to expect inflation to hold at 3.3%, and the five-year outlook stayed at 3.0%, unchanged from the previous release.

The survey also pointed to a partial rebound in expectations for gas price growth after their sharp decline in June. Labor market expectations were mixed, with unemployment and job loss expectations deteriorating while job finding expectations improved somewhat.

After the release, the US Dollar Index, or DXY, hovered around 99.60, relatively unchanged. FXStreet noted the dollar was down on the day, weighed by an earlier Nonfarm Payrolls report that missed expectations.

Latest closeDollar index 99.98 ▲0.3%

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