U.S. consumers’ one-year inflation outlook steady in July: NY Fed survey

NEW YORK (Reuters) – U.S. consumers’ one-year inflation expectations held steady in July at near 3 percent, while their three-year outlook on price growth eased to its lowest level since February, according to a Federal Reserve Bank of New York survey published on Monday.

The survey of consumer expectations, which the Fed considers along with other data on U.S. price pressures, showed consumers’ one-year inflation outlook stood at 2.98 percent in July for a fourth consecutive month.

The survey’s three-year inflation measure declined to 2.88 percent from 3.00 in June.

The New York Fed survey is done by a third party that taps a rotating panel of about 1,200 household heads.

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