New York Fed: US one-year inflation expectations rise to 3.9%, the highest in more than three years.

BlockBeats news, October 7 — A survey released by the Federal Reserve Bank of New York on Wednesday showed that U.S. consumers' expectations for inflation over the next year rose significantly in September, reaching the highest level in more than three years, while households' views of both their current and future financial situations deteriorated. Respondents expected the inflation rate a year from now to reach 3.9%, up from 3.6% in August and the highest since May 2023. Three-year inflation expectations rose from 3.2% to 3.3%, while five-year inflation expectations remained unchanged at 3%.

The New York Fed survey also showed that in September, households lowered their assessments of their current and future financial situations and said they believed it had become somewhat harder to obtain credit. However, households' concerns about being unable to repay debt on time actually eased. Expectations for the job market showed some improvement. Compared with August, respondents saw a lower probability that the unemployment rate would rise a year from now, were less worried about involuntary unemployment over the next year, and were more confident that they could find a new job if they lost their current one.