Off the wire
As rotating AU chair, Rwanda to focus more on African integration: president  • Vienna airport sees record 24.4 mln passengers in 2017  • ROK to help Mongolia with combating air pollution  • Ukraine's IT exports reach record 3.6 bln USD in 2017  • French shares gain 0.07 pct on Tuesday  • Russian airline may resume flights to Cairo in late February  • Jeep unveils new Cherokee at Detroit Auto Show  • UN chief urges promotion of globalization to benefit all  • Roundup: More security forces in Italy's Naples, after emergency meeting on "baby-gangs" violence  • Italy wine, design to be showcased in Design Shanghai fair  
You are here:  

New York Fed survey shows U.S. inflation pressure builds up

Xinhua,January 17, 2018 Adjust font size:

WASHINGTON, Jan. 16 (Xinhua) -- Inflation expectation in the United States began to rise in December 2017, indicating inflation pressure might start to build up.

Median consumer expectations for inflation at the one-year horizon rose to 2.8 percent in December 2017 from November's 2.6 percent, a survey report released by the New York Federal Reserve Bank showed on Tuesday.

The median inflation expectations at the three-year horizon also rose from 2.8 percent in November to 2.9 percent in December.

Consumers continued to expect further improvement in labor market. Median one-year-ahead earnings growth expectations continued to increase from 2.6 percent in November to 2.7 percent in December, a level last reached in November 2014.

The probability that the unemployment rate will be higher one year from now dipped 0.2 percentage points to 33.5 percent in December, the lowest level since December 2014.

The personal consumption expenditures price index, an inflation gauge preferred by the Federal Reserve, rose 1.8 percent year on year in November 2017, higher than the 1.6 percent growth in the previous month.

Fed officials are dividing over monetary policy tightening pace for this year due to their differences over inflation outlook. The build-up of inflation pressure will likely assure the central bank to continue current gradual rate hiking pace. Enditem