New York Fed September consumer survey: one-year inflation expectations rose to
3.9% from 3.6% in August, the highest since May 2023. Three-year expectations
increased to 3.3% from 3.2%; five-year expectations remained at 3.0%. Households
raised expected price gains for gasoline, food, rent, medical care and college.
Respondents downgraded assessments of current and future finances and reported
tighter perceived access to credit, though concern about inability to repay debt
eased. Labor-market expectations improved: respondents saw a lower probability
of higher unemployment in a year, reported less worry about involuntary job
loss, and were more confident about finding a new job if displaced.
