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New York Fed survey shows U.S. inflation pressure remains muted
Last Updated: 2017-11-14 09:33 | Xinhua
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U.S. inflation pressure remained muted amid lower price increases and slower earnings growth, a survey report released by the New York Federal Reserve Bank showed on Monday.

According to the survey, median consumer expectations for inflation at the one-year-ahead horizon rose to 2.6 percent in October from September's 2.5 percent. However, the median inflation expectations were unchanged at the three-year horizon.

Despite the slight improvement in year-ahead inflation expectations, consumers expected slower price increases in a year ahead.

According to the survey, the median one-year ahead expected gasoline price change decreased from 4.7 percent in September to 3.8 percent in October. Expectations for changes in food prices declined from September's 4.6 percent to 4.3 percent in October, their lowest value since the start of the survey in June 2013.

In addition to the slower price increases, consumer expectations for earnings growth also slowed. The survey showed that median one-year ahead earnings growth expectations decreased from 2.3 percent in September to 2.1 percent in October, its third consecutive decline.

Federal Reserve chair Janet Yellen in September acknowledged that the central bank is puzzled by the persistence of unusually low inflation. But she said that Fed officials still expect the forces keeping inflation low to fade eventually.

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