Inflation outlook hits two-year low in latest New York Fed survey


Shell gas station prices are seen on May 30, 2023 in Austin, Texas.

Brandon Bell | Getty Images

Consumers are growing more optimistic that inflation is on the way down, according to a New York Federal Reserve survey released Monday.

The central bank’s monthly Survey of Consumer Expectations for May showed one-year inflation expectations down 0.3 percentage point to a 4.1% rate.

That’s the lowest annual outlook since May 2021, just as inflation was beginning to spike to its highest level in more than 41 years. The one-year expectation then was 4%; inflation as measured by the consumer price index actually would rise to 8.6% a year later.

In the current case, the survey matches general…


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