U.S. Inflation, Home Price Expectations Pick Up in NY Fed Survey

by Alex Tanzi
BNN Bloomberg

(Bloomberg) — US consumer expectations for inflation and home prices rose in April while perceptions of the labor market weakened, underscoring an uneasy backdrop for household finances and the cost of living.

Consumers expect prices will climb at an annual rate of 3.3% over the next year after hovering around 3% for the past four months, a Federal Reserve Bank of New York survey showed. That marked the highest reading since November. Anticipated home price growth rose at a similar pace — the fastest advance since July 2022.

The data follow a string of reports that have indicated sticky inflation and a relentless run-up in home prices. Data out this week is projected to show US consumer prices still rose at stubborn pace last month, and shelter has been consistently responsible for boosting measures of inflation.

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