MNI: NY Fed - Inflation Expectations Steady, Consumers Gloomy

U.S. consumers inflation expectations in November were steady across time horizons, according to a Federal Reserve Bank of New York report Monday, while consumers' perceptions and expectations about their current and future financial situation became more negative.

The one-year-ahead median inflation expectations was 3.20%, from 3.24% previously. The three-year median was steady at 3.00% and the five-year-horizon was 2.98% from 3.00%, according to the Survey of Consumer Expectations.

Consumers' expected chances of missing a minimum debt payment over the next three months increased by 0.6 percentage point to 13.7%, modestly above the trailing 12-month average of 13.3%. Perceptions about households’ current financial situations compared to a year ago deteriorated notably with a larger share of respondents reporting that their households were worse off compared to a year ago.