US consumers' 1-year inflation outlook highest in over 3 years

[NEW YORK] US consumers' one-year inflation expectations strengthened to a level not seen in more than three years, while their three-year outlook on price growth rebounded, according to a Federal Reserve Bank of New York survey published on Monday.

The survey of consumer expectations, which the Fed considers along with other data on US price pressures, showed consumers' one-year inflation outlook climbed to 3 per cent last month, a level last seen in June 2015. It had been at 2.98 per cent for four straight months.

The survey's three-year inflation measure bounced back up to 3.00 per cent in August from July's 2.88 per cent which was the lowest level since February.

The New York Fed survey is done by a third party that taps a rotating panel of about 1,300 household heads.

REUTERS