US: Consumer inflation expectations have remained steady - Nomura
Analysts at Nomura suggest that with NY Fed Survey of Consumer Expectations data due, it is worthy to note that survey-measured consumer inflation expectations of US over the medium- to long run have remained steady.
Key Quotes
“The median of three-year ahead inflation expectations, as measured by the NY Fed Survey of Consumer Expectations, remained within a steady range and registered 2.88% in February. University of Michigan data for March indicated consumers’ one-year ahead inflation outlook rose to 2.8% in March from 2.7% in February, but that their five-year outlook remained at 2.5%. Together, the surveys appear consistent with the FOMC’s judgment in March that survey-based measures of longer-term inflation expectations are little changed, on balance.”