NY Fed: Expectations about consumers’ financial situations remain elevated

"The Survey of Consumer Expectations shows that consumers’ expectations of year-ahead growth in government debt increased again for the third consecutive month. While inflation expectations were relatively stable, year-ahead expectations of food price changes reached their lowest value since the start of our survey in June 2013," the Federal Reserve Bank of New York reported on Monday.

Key highlights

Median inflation expectations were unchanged at the three-year horizon at 2.8%. They increased slightly at the one-year horizon from 2.5% in September to 2.6% in October.

The median one-year ahead expected gasoline price change decreased from 4.7% in September to 3.8% in October.

Median one-year ahead earnings growth expectations decreased from 2.3% in September to 2.1% in October, its third consecutive decline since reaching 2.6% in July of this year.

Mean unemployment expectations increased slightly from 35.7% in September to 36.0% in October.

Median expected household income growth rebounded from its sharp drop in September to 2.6% in October, equal to its past year average.