American consumers said in August that they are expecting notable declines in future levels of inflation, a report from the Federal Reserve Bank of New York said Monday.
The bank said in its August Survey of Consumer Expectations that one year from now, households see inflation at 5.7%, down from the 6.2% they predicted in the July survey. Three years from now, survey respondents expect to see inflation at 2.8%, down from the 3.2% seen in July.
