The New York
Fed reported on Monday that the U.S. consumer inflation expectations for the
year ahead held steady at 3.0
per cent in February compared to January.
According
to the report, the anticipations about year-ahead price change for the cost of medical care fell by 1.8
percentage points to 6.8 per cent, its lowest level since September 2020, while
those for rent dropped by 0.3 percentage point to 6.1 per cent, its lowest level since December
2020, and those for the cost of a college education slipped by 0.1 percentage
point to 5.8 per cent. Meanwhile, the perceptions of year-ahead change in the
prices for gas edged up by 0.1 percentage point to 4.3 per cent, and those for food
remained flat at 4.9 per cent. Elsewhere,
home price growth expectations remained unchanged for the fifth straight month at
3.0 per cent.
The
three-year-ahead inflation expectations climbed to 2.7 per cent in February from 2.4 per cent in January, and the
five-year-ahead inflation expectations jumped to 2.9 per cent from 2.5 per cent in the previous month.