US consumers' short-term inflation expectations unchanged in November: New York Fed

ISTANBUL

The short-term inflation expectations of US consumers remained stable in November at 3.2%, according to the results of a survey from the Federal Reserve Bank of New York, released on Monday.

The three-year-ahead and five-year-ahead expectations from last month also remained unchanged, both at 3%.

Meanwhile, unemployment expectations, or the probability that the US unemployment rate will be higher a year from now, dropped 0.4 percentage points to 42.1%.

Expectations for household income growth inched up 0.1 percentage point to 2.9%, while the spending growth forecast rose 0.2 percentage points to 5%.

Cost-increase projections rose to 5.9% for food, 4.1% for gasoline, 10.1% for health care, 8.4% for university education, and 8.3% for rent.

The expected change in healthcare spending reached its highest level since January 2014.

"Perceptions of credit access compared to a year ago deteriorated, with a decrease in the net share of respondents who expect that credit will be easier to obtain a year from now," Fed New York said in a statement.

In September, the US consumer price index rose 0.3% month-on-month and 3% year-on-year, below expectations.