The New York Fed reported on Monday that the U.S. consumer inflation
expectations for the year ahead fell to 4.4 percent in April from
4.7 percent in March.
According to the report, the perceptions of year-ahead
price changes for food edged down 0.1 percentage points to 5.8 percent, and
those for the cost of college education plunged by 1.1 percentage points to 7.8
percent. In the meantime, the anticipations about year-ahead
price changes in gas prices jumped by 0.5 percentage
point to 5.1 percent in April, and the expectations for the changes in the cost
of medical care and rent at the one-year horizon were unchanged at 9.3 percent
and 9.2 percent respectively. In addition, home price growth
expectations jumped by 0.7 percentage point to 2.5 percent in April, the
highest level since July 2022.
Meanwhile, the three-year-ahead inflation expectations
increased to 2.9 percent in
April from 2.8 percent in March, and the five-year-ahead inflation expectations
rose to 2.6 percent from 2.5 percent in the previous month.