- New York Fed one-year consumer inflation expectations remain unchanged at 5.0%, while the three-year-ahead gauge eases to 2.7% from 2.9%. For its part, the five-year outlook ticks up modestly to 2.5% from 2.4%
- Today’s benign survey’s data fail to spark a significant market reaction as traders await the latest CPI report
- January headline inflation is seen clocking in at 0.5% m-o-m and 6.2% y-o-y. Elsewhere, the core measure is expected to print at 0.4% on a seasonally adjusted basis and 5.5% in the last 12 months
- U.S. households’ outlook for inflation was little changed at several time horizons, according to a monthly survey released this morning by the Federal Reserve of New York. The data showed that inflation expectations for the year ahead remained unchanged at 5.0%, whereas the three-year gauge fell modestly to 2.7% from 2.9%. Meanwhile, the five-year outlook inched higher to 2.5% from 2.4% previously.Today’s results did not trigger significant volatility as traders continue to await the latest consumer price index report to make a more informed assessment of the inflation trajectory, with January’s figures due to be released on Tuesday morning.
Headline CPI is forecast to have risen 0.5% on a seasonally adjusted basis at the outset of the year, bringing the annual rate to 6.2% from 6.5%. The core measure, for its part, is seen clocking in at 0.4% month-over-month, in line with December’s reading. This would bring the year-on-year print to 5.5% from 5.7%, a small but welcome directional improvement.
Source: www.dailyfx.com
