According to the New York Federal Reserve Consumer Expectations Survey, the one-year inflation forecast for September rose to 3.9%, up from 3.58% in August. The inflation rate for the next three years is expected to rise 0.1 percentage points to 3.3%; for the next five years, the inflation rate is expected to remain unchanged at 3.0%. Labor market expectations are generally more favorable to workers, but salary increases in the next year are expected to fall back to an average of 2.6% over the past 12 months. More households expect their financial situation to deteriorate; at the same time, spending growth is expected to rise to 5.5%, the highest since May 2023. Consumers expect gasoline prices to rise 4.8%, food prices to rise 5.5%, medical costs to rise 9.2%, college education expenses to rise 7.5%, and rents to rise 6.8% in the coming year. The proportion of consumers unable to pay the minimum debt repayment amount is expected to drop to 12.20% in the next three months, down from 13.16% the previous month.

According to the New York Federal Reserve Consumer Expectations Survey, the one-year inflation forecast for September rose to 3.9%, up from 3.58% in August. The inflation rate for the next three years is expected to rise 0.1 percentage points to 3.3%; for the next five years, the inflation rate is expected to remain unchanged at 3.0%. Labor market expectations are generally more favorable to workers, but salary increases in the next year are expected to fall back to an average of 2.6% over the past 12 months. More households expect their financial situation to deteriorate; at the same time, spending growth is expected to rise to 5.5%, the highest since May 2023. Consumers expect gasoline prices to rise 4.8%, food prices to rise 5.5%, medical costs to rise 9.2%, college education expenses to rise 7.5%, and rents to rise 6.8% in the coming year. The proportion of consumers unable to pay the minimum debt repayment amount is expected to drop to 12.20% in the next three months, down from 13.16% the previous month.