U.S. consumers expect prices to rise only about 3% year-on-year over the next five years

The Federal Reserve Bank of New York just released a report on U.S. consumers' inflation expectations. The report's survey found that consumers faced the current high inflation environment, although the short-term inflation expectations have been maintained on an upward trend, but they are still optimistic about the medium-term. And long-term inflation expectations are moderate. According to their forecast for future prices, the 1-year increase will be more than 6%, but for the next 5-year increase in consumer prices, the annual average is only about 3%. It is interesting that they are divided on medium-term inflation expectations. The 3-year increase is expected to increase and the number of people to decline has increased. Therefore, it is expected that there is also a certain degree of uncertainty in the overall consumer's expectations for inflation. Future development may be a key factor affecting the U.S. economy and consumer-related industries factor.