Americans’ medium-term inflation expectations rise in August

ISTANBUL

American consumers’ medium-term inflation expectations rose in August, according to a survey released Monday by the Federal Reserve Bank of New York.

The median three-year ahead inflation expectations increased to 2.5% in August, from 2.3% in July.

However, the median one- and five-year ahead inflation expectations remained unchanged at 3% and 2.8% last month.

“Median one-year-ahead expected earnings growth increased to 2.9% from 2.7%, just above its 12-month trailing average of 2.8%,” the New York Fed said in a statement.

“Median home price growth expectations increased to 3.1% from 3.0% in July,” it added.