United States Inflation Expectations

Last Release

Oct 31, 2024

Actual

2.9

Units In

Frequency

Monthly

Next Release

Dec 09, 2024

Time to Release

25 Days 16 Hours

Highest	Lowest	Average	Date Range	Source
6.8 Jun 2022	2.33 Oct 2019	3.36 %	2013-2024	Federal Reserve Bank of New York

In the US, inflation expectations refer to median one year ahead expected inflation rate. The expectations are based on the nationally representative, internet-based survey of a rotating panel of approximately 1,200 heads of households.

Latest Updates

US consumer inflation expectations for the year ahead edged down to 2.9% in October 2024, the lowest since October 2020, from 3% in each of the previous four months. Year-ahead commodity price expectations declined for gas (-0.2 percentage point to 3.2%), food (-0.2 percentage point to 4.3%), college education (-0.2 percentage point to 5.7%), rent (-0.4 percentage point to 5.9%) and medical care (-0.8 percentage point to 5.8%, the lowest reading since January 2020). In addition, median home price growth expectations were unchanged at 3%. Meanwhile, three-year-ahead inflation expectations declined by 0.2 ppt to 2.5% and five-year-ahead inflation expectations fell by 0.1 ppt to 2.8%.