New York Fed Survey Shows Rising Short- and Medium-Term Inflation Expectations in June, Gas Price Growth Expectations Fall

The Federal Reserve Bank of New York's June 2026 Survey of Consumer Expectations revealed that households' inflation expectations increased for both the short- and medium-term horizons, while remaining unchanged for the longer term. Notably, gas price growth expectations declined to their lowest level since August 2022. Labor market expectations improved, with increased job-finding prospects and decreased job-loss expectations and unemployment rate outlooks. Spending growth expectations remained stable.