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U.S. inflation expectations edge up: NY Fed survey

Reuters  |  NEW YORK 

NEW YORK (Reuters) - U. S. expectations edged up again in October, touching their highest level in six months, according to a Federal Reserve of New York that could spell some relief for central bankers looking for hints of price pressure.

The of consumer expectations, an increasingly valuable gauge as the cautiously raises interest rates in the face of below-target inflation, showed the one-year-ahead measure was 2.61 percent in October, its second monthly rise.

That's up from 2.54 percent the month before and the highest since April.

The three-year-ahead expectation was 2.81 percent, slightly up from the previous month and also at the highest level since April.

Both gauges have generally slipped since the began in mid-2013, covering a period in which spot levels have lingered below a 2-percent target. The central has nonetheless raised rates four times since late 2015 in a nod to strong employment and steady economic growth, and expects to tighten policy again next month.

The internet-based is done by a third party and taps a rotating panel of about 1,200 household heads.

(Reporting by Jonathan Spicer; Editing by Chizu Nomiyama)

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Mon, November 13 2017. 21:32 IST