NEW YORK—The Federal Reserve Bank of New York’s Center for Microeconomic Data today released the April 2022 Survey of Consumer Expectations, which shows that inflation expectations fell at the one-year horizon and rose at the three-year horizon. Households remained positive about their labor market prospects with earnings growth expectations stable at its series high and job-loss expectations hovering near its series low.
Household spending expectations over the next year also rose to a series high. However, perceptions of credit access relative to a year ago fell for the fourth consecutive month, and expectations of credit access one year from now also declined to a series low.
Median inflation expectations decreased in April at the one-year horizon to 6.3% from 6.6% in March. Median inflation uncertainty—or the uncertainty expressed regarding future inflation outcomes—increased slightly to a new series high at the short-term horizon and was unchanged at its series high at the medium-term horizon.