Short-term inflation expectations increased in the USA
The short-term inflation expectation of consumers in the USA rose to 3.3 percent in April, the highest level since November 2023.
The US Federal Reserve (Fed) New York Branch published the results of the Consumer Expectations Survey for April.
According to the results of the survey conducted with the participation of approximately 1300 households, the short-term median inflation expectation covering the next 12 months increased by 0.3 points to 3.3 percent in April.
Thus, consumers’ short-term inflation expectations reached the highest level since November 2023.
While the median inflation expectation covering the next 3-year period decreased from 2.9 percent to 2.8 percent in the same period, the median inflation expectation covering the 5-year period increased from 2.6 percent to 2.8 percent.
While the expectation for the increase in household expenditures increased by 0.2 points to 5.2 percent in April, the expectation for the increase in household income decreased by 0.1 points to 3 percent.
During this period, the expectation of an increase in costs increased to 4.8 percent for gasoline, 5.3 percent for food, 8.7 percent for health care, 9 percent for university education and 9.1 percent for rent. .
April inflation in the USA will be announced on Wednesday
Consumer Price Index (CPI) in the USA increased by 0.4 percent on a monthly basis and 3.5 percent on an annual basis in March.
The market expectation for April inflation to be announced in the country on Wednesday is 0.4 percent on a monthly basis and 3.4 percent on an annual basis.