US inflation expectations fall for second month in NY Fed survey

US consumers’ near-term inflation expectations declined for the second straight month in June as Americans lowered their outlook for how much they expect home prices and the cost of other goods to rise over the next year.

Consumers expect prices will climb at an annual rate of 3% over the next year, down from 3.2% in May, a Federal Reserve Bank of New York survey showed. The shift shows short-term inflation expectations returned to the level that held steady from December until April, when they jumped to 3.3%.

Source: Bloomberg