US inflation expectations remain flat, NY Fed survey finds
Credit: Reuters/Rick Wilking
Gas pumps at a Shell gas station are pictured in Westminster, Colorado January 17, 2014.
Median expectations of inflation one and three years into the future have remained steady at 3.0 percent since August, even while one-year-ahead gasoline price predictions fell for a fourth straight month, according to the New York Fed's relatively new survey of consumer expectations.
The internet-based survey, which started midway through last year, saw median earnings growth expectations jump to its highest recorded level at 2.7 percent in November.
A global drop in energy prices and a stronger dollar has put pressure on overall U.S. inflation, which remains below the central bank's 2 percent target. Fed policymakers are not expected to raise interest rates from near zero until about the middle of next year.
(Reporting by Jonathan Spicer; Editing by Meredith Mazzilli)
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