New York Fed survey: Expectations for inflation in the coming year hit the highest since September 2023

On July 7, the New York Fed's Consumer Expectations Survey showed that consumers 'expectations for inflation in the coming year rose to 3.67% in June, up from 3.46% in the previous month. According to the June survey: Expectations for inflation in the next year rose to the highest since September 2023; expectations for inflation in the next three years were 3.3%, the highest since 2022; expectations for revenue growth in the next year rose to 2.8%, the highest since March 2025; expectations for the trend of U.S. stock prices in the next year rose to the highest since April 2021; Consumers expect gasoline prices to rise 1.5%, food prices to rise 5%, medical bills to rise 9.4%, college education costs to rise 5.7%, and rent to rise 8.3%.