Consumers See Lower Inflation, Spending Growth in Fed Survey
- Expected inflation three years out falls to 2.8% in September
- New York Fed releases monthly consumer expectations survey
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American consumers’ expectations for inflation and spending growth fell last month to the lowest level in records going back to June 2013, according to a monthly Federal Reserve Bank of New York survey released Tuesday.
The median respondent to the New York Fed’s September Survey of Consumer Expectations predicted annual consumer-price inflation three years from now would be 2.8 percent, down from 2.9 percent in the August poll. Median expected inflation a year ahead fell to 2.7 percent from 2.8 percent.