The New York
Fed announced on Monday that the U.S. consumer inflation expectations for the
year ahead remained unchanged at 3.0 per cent in January 2024 compared to
December 2023.
According
to the report, the anticipations about year-ahead price change for rent dropped
by 0.9 percentage point to 6.4 per cent, the lowest level since December 2020,
while those for the cost of medical care decreased by 0.5 percentage point to 8.6
per cent and those for the cost of a college education declined by 0.4
percentage point to 5.9 per cent. In addition, the perceptions of year-ahead
change in the prices for food slipped by 0.1 percentage point to 4.9 per
cent, the lowest since March 2020, and those for gas fell by 0.3 percentage
point to 4.2 per cent, the lowest since December 2022. Elsewhere, home price growth expectations were unchanged at
3.0 per cent for the fourth straight month.
The
three-year-ahead inflation expectations fell to 2.4 per cent in January from 2.6 per cent in December, and the
five-year-ahead inflation expectations held steady at 2.5 per cent.