By Ovunc Kutlu
ISTANBUL (AA) - American consumers' short-term inflation expectations rose in September, according to a survey released Tuesday by the Federal Reserve Bank of New York.
The median one-year-ahead inflation expectation slightly increased by 0.1 percentage point to 3.7% last month from 3.6% in August, the survey showed.
Median one-year-ahead expected earnings growth increased by 0.1 percentage point to 3% in September, according to the survey.
However, median home price growth expectations decreased to 3% in September from 3.1% in August while the median one-year ahead expected change in the cost of college education fell sharply to 5.8% from 8.2% -- its largest one-month decrease since the onset of the survey in 2013.
Three-year inflation expectations increased by 0.2 percentage point to 3% in September from 2.8% in the previous month.
After soaring to 9.1% in June last year, annual consumer inflation dropped to 4% in May and 3% in June this year but came in at 3.2% in July and climbed to 3.7% in August.