US inflation expectations a touch weaker: New York Fed survey

Economic IndicatorsReuters

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NEW YORK, Dec 10 (Reuters) - One measure of U.S. inflation expectations dipped a bit in November while another held steady for an eighth straight month, according to a Federal Reserve Bank of New York survey published on Monday.

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The survey of consumer expectations, one of the Fed's key price gauges as it weighs how much longer to raise rates, showed median three-year ahead inflation expectations were 2.9 percent, just down from October's 3 percent, where the measure has hovered since March.

The one-year ahead measure was steady at 3 percent, where it has been since April.

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The U.S. central bank is expected to raise interest rates again next week. While the Fed sees further policy tightening next year, investors are growing skeptical as the global economy slows and so-called leading indicators like U.S. stocks and house prices slip.

The New York Fed survey showed median home-price change expectations slipped to 3.1 percent last month, from 3.3 percent the month before, continuing a steady decline that began midway through the year.

The internet-based survey taps a rotating panel of 1,300 households. (Reporting by Jonathan Spicer Editing by Nick Zieminski)

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