Today’s Lead Story
Monday, July 13Inflation
Americans Expect Inflation to Stay Elevated — NY Fed Survey Hits Highest Since 2023
via Federal Reserve Bank of New York
The Federal Reserve Bank of New York's June consumer expectations survey shows households expect prices to rise 3.7% over the next year, the highest one-year inflation outlook since September 2023, up 0.2 percentage points from May. Gas-price growth expectations eased, but overall household expectations for future costs remain elevated heading into Tuesday's scheduled June CPI release.
Why it matters
Rising inflation expectations influence how the Fed sets interest rates, which in turn affects what households pay on mortgages, auto loans, and credit cards.
