Medium-term US inflation expectations hit record low
However, expert says infrastructure projects could push prices to higher-than-expected levels
US consumers’ inflation expectations hit a record low in July, according to the results of a survey by the Federal Reserve Bank of New York.
The results, published on August 12, showed that people’s median expectations for inflation three years ahead had fallen to a record low of 2.3%, compared with the 2.9% recorded in June.
Consumers surveyed in July expected inflation to be 3% one year ahead and 2.8% five years ahead. Both the short- and long-term figures were unchanged from the previous month
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