By Mucahithan Avcioglu
ISTANBUL (AA) - The short-term inflation expectations of the US consumers inched up to 3.2% in August, according to a survey from the Federal Reserve's New York branch released Monday.
The short-term inflation expectation ticked up by 0.1 percentage point in August, while the three-year-ahead and five-year-ahead expectations remained unchanged at 3% and 2.9%, respectively.
Meanwhile, the probability of finding a job if one’s current job was lost fell significantly in August, dropping by 5.8 percentage points to 44.9%.
This was the lowest reading since the start of the index in June 2013.
The unemployment expectations (probability that the US unemployment rate will be higher one year from now) rose by 1.7 percentage points to 39.1% in August.
The probability of losing one’s job in the next 12 months ticked up by 0.1 percentage points to 14.5%.
Household income growth expectations remained at 2.9% for the second consecutive month in August, while spending growth expectations increased by 0.1 percentage points to 5%.
Expectations for price increases remained at 3.9% for gasoline and 5.5% for food for the third consecutive month.
In July, the US Consumer Price Index (CPI) rose by 0.2% month-on-month and 2.7% year-on-year, while inflation data for August is set to be released on September 11.