In the May Survey of Consumer Expectations, median inflation expectations at both the one-year and three-year horizons remained unchanged at 3.0 percent, while inflation uncertainty increased to its highest level since March 2017. Median expected household income growth decreased from 2.9 percent in April to 2.6 percent in May. Spending growth expectations retreated to 3.0 percent in May, after increasing for three consecutive months.
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Press Release: Inflation Expectations Unchanged; Consumers’ Optimism about Household Finances Abates Somewhat in May