US inflation expectations drop for January

Median one-year-ahead inflation expectations decrease to 5.8% in January, from 6.0% in December

By Ovunc Kutlu

ANKARA (AA) - The short- and medium-term inflation expectations in the US dropped for January, according to the Federal Reserve Bank of New York's microeconomic data released Monday.

The median one-year-ahead inflation expectations decreased to 5.8% in January, from 6.0% in December, marking the first decline since October 2020.

However, food and rent prices are forecast to increase by 7.7% and 9.8% in the year ahead, respectively, while gas and medical care are estimated to rise by 5.6% and 9.5%.

US consumer prices rose 7.5% year-on-year in January, marking the largest 12-month increase since February 1982, the Department of Labor said last week.

Producer prices that will be announced on Tuesday will give a better estimation about the near- and medium-term inflation in the US.

Kaynak:

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