Americans' short-term inflation expectations rise in April

By Ovunc Kutlu

ISTANBUL (AA) - American consumers' short-term inflation expectations rose in April, according to a survey released Monday by the Federal Reserve Bank of New York.

The median one-year ahead inflation expectations increased to 3.3% in April from 3% in March, while the five-year ahead inflation expectations rose to 2.8% from 2.6% during that period.

However, the median three-year ahead inflation expectations decreased to 2.8% last month from 2.9% the month before.

"Median home price growth expectations increased to 3.3% after remaining unchanged at 3.0% for seven consecutive months," the New York Fed said in a statement. "This is the highest reading of the series since July 2022."

The median one-year-ahead expected earnings growth decreased by 0.1 percentage point to 2.7% in April from the previous month, while the median expected growth in household income declined by 0.1 percentage point to 3% during that period.