Abstract:U.S. consumers' inflation expectations slid further in August as gasoline prices extended their steep decline from June's record high, a development likely to be welcomed by Federal Reserve policymakers weighing how big an interest rate hike to deliver next week.
U.S. consumers' inflation expectations slid further in August as gasoline prices extended their steep decline from June's record high, a development likely to be welcomed by Federal Reserve policymakers weighing how big an interest rate hike to deliver next week.
The Federal Reserve Bank of New York's monthly Survey of Consumer Expectations showed on Monday that the US consumers' one-year inflation expectation declined to a new 10-month low of 5.7% in August from 6.2% in July, as reported by Reuters.
Consumers' 3-year inflation expectation declined to the lowest in nearly two years at 2.8% in August from 3.2% in July.
Moreover, the publication revealed that consumers saw a lower chance of losing a job in August than in July and a higher likelihood of finding a new job should they lose one. Additionally, consumers in August saw the lowest chance of quitting their current job since March 2021.
Market reaction
The greenback struggles to find demand after this report and the US Dollar Index was last seen losing 0.72% on a daily basis at 108.18
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