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 August compared to July. Overall, this was the third consecutive month the
inflation expectations demonstrated no change.
According
to the report, the anticipations about year-ahead price change for the cost of medical
care jumped by 0.4 percentage point to 8.0 per cent, while the perceptions of
year-ahead change in the cost of rent increased by 0.2 percentage point to 7.3 per cent, and those for gas price inched
up 0.1 percentage point to 3.6 per cent. Meanwhile, the expectations for
year-ahead changes in the cost of a college education and food declined by 1.3
percentage points and 0.3 percentage point respectively to 5.9 per cent and 4.4 per cent respectively. Elsewhere,
home price growth expectations rose by 0.1 percentage point to 3.1 per cent.
The
report also revealed that the three-year-ahead inflation expectations increased to 2.5 per cent in August from 2.3 per cent in July, while the five-year-ahead inflation expectations remained unchanged at 2.8 per cent.