NY Fed: Consumer inflation expected to fall to 5.75%

The Federal Reserve Bank of New York’s monthly Survey of Consumer Expectations showed on Monday that the US consumers’ one-year inflation expectation declined to a new 10-month low of 5.7% in August from 6.2% in July, as reported by Reuters.

Consumers’ 3-year inflation expectation declined to the lowest in nearly two years at 2.8% in August from 3.2% in July.

Moreover, the publication revealed that consumers saw a lower chance of losing a job in August than in July and a higher likelihood of finding a new job should they lose one. Additionally, consumers in August saw the lowest chance of quitting their current job since March 2021.