US consumers' short-term inflation expectations increased in June, according to the Federal Reserve Bank of New York.
The New York Fed said one-year inflation expectations rose to 3.7% from 3.5% in May, the highest level since September 2023.
Three-year inflation expectations increased to 3.3% from 3.1%, while five-year inflation expectations were unchanged at 3.0%.
Households were more upbeat about their personal financial situation and the labor market than before. Expectations for higher gasoline prices also eased, the survey showed.
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