December 8, 2014 / 4:08 PM / 4 years ago

U.S. inflation expectations remain flat, NY Fed survey finds

Gas pumps at a Shell gas station are pictured in Westminster, Colorado January 17, 2014. REUTERS/Rick Wilking

NEW YORK (Reuters) - Falling oil prices and a stronger U.S. dollar did not dampen Americans’ inflation expectations last month, according to a Federal Reserve Bank of New York survey that also found a jump in expected earnings growth.

Median expectations of inflation one and three years into the future have remained steady at 3.0 percent since August, even while one-year-ahead gasoline price predictions fell for a fourth straight month, according to the New York Fed’s relatively new survey of consumer expectations.

The internet-based survey, which started midway through last year, saw median earnings growth expectations jump to its highest recorded level at 2.7 percent in November.

A global drop in energy prices and a stronger dollar has put pressure on overall U.S. inflation, which remains below the central bank’s 2 percent target. Fed policymakers are not expected to raise interest rates from near zero until about the middle of next year.

Reporting by Jonathan Spicer; Editing by Meredith Mazzilli

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below