US Consumers Lift 1-Year Inflation View to 3.7% as Rent and Medical Costs Climb
Updated
Updated · Bloomberg · Jul 7
US Consumers Lift 1-Year Inflation View to 3.7% as Rent and Medical Costs Climb
3 articles · Updated · Bloomberg · Jul 7
Summary
June inflation expectations rose across the near and medium term in the New York Fed survey, with consumers projecting 3.7% inflation over the next year, up from 3.5% in May.
Three-year expectations climbed to 3.3% from 3.1%—the highest since June 2022—while five-year expectations held steady at 3%.
Medical care and rent drove the increase, with respondents anticipating especially strong price gains in those categories.
The survey points to persistent household concern about core living costs even as longer-run inflation expectations remained unchanged.