New York Fed May consumer expectations: Year-ahead inflation seen at 3.2% vs 3.6% prior

- Three-year ahead expected inflation 3.0% vs 3.2% prior
- Five year inflation 2.6% vs 2.7% prior
- Home price rise seen at 3.0% vs 3.2% prior
- Food prices seen +5.5% -- highest since Oct 2023
- Outlook on job market improved in May
- Expectations of missing debt payments fell
- Full report
This is a good sign for the Fed but they have been nearly unanimous that they won't cut rates until the tariff uncertainty has cleared.