The New York
Fed informed on Monday that the U.S. consumer inflation expectations for the
year ahead remained unchanged at 3.0
per cent in July compared to June.
According
to the report, the anticipations about year-ahead price change for the cost of
a college education surged by 1.9 percentage points to 7.2 per cent, while the
perceptions of year-ahead change in the cost of rent increased by 0.6 percentage point to 7.1 per
cent, and those for the cost of medical care rose by 0.2 percentage point to 7.6
per cent. Meanwhile, the expectations for year-ahead changes in gas price and
food dropped by 0.8 percentage point and 0.1 percentage point respectively to 3.5 per
cent and 4.7 per
cent.
Elsewhere, home price growth expectations were
unchanged at
3.0 per cent.
The report also revealed that the
three-year-ahead inflation expectations fell to 2.3 per cent in July from 2.9 per cent in June,
hitting a series low since the survey’s inception in June 2013, while the
five-year-ahead inflation expectations held steady at 2.8 per cent.