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Consumer Inflation Expectations Higher Then Forecast

Bylt: News Alert Briefing

Washington D.C. – Consumers’ year-ahead inflation expectations increased for the tenth consecutive month to 5.2 percent in August 2021, a new series high, driven by food (+0.8 percentage point to 7.9 percent ), rent (+0.2 percentage point to 10% ), medical care (+0.2 percentage point to 9.7 percent ), and gas (+1.1 percentage points to 9.2 percent ). By comparison, the estimated cost of a college degree fell by 0.5 percentage point to 7. Expectations for home price rise have remained moderate yet elevated (5.9 percent vs 6 percent ). Meanwhile, three-year inflation estimates grew by 0.3 percentage point to a new record high of 4%. Household perceptions of their existing financial circumstances improved, while income growth expectations reached a new series high.

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