The Federal Reserve Bank of New York's monthly Survey of Consumer Expectations showed on Monday that the US consumers' one-year inflation expectation dropped to the lowest level since April 2021 at 3.8% in June from 4.1% in May.

Key takeaways

"Three year-ahead expected inflation unchanged at 3% in June."

"Five-year ahead expected inflation at 3% in June vs 2.7% in May."

"June home price expectations rise to 2.9% vs May’s 2.6% expected gain."

"Home price expectations highest since July 2022."

"Expectations for gasoline prices fell in June."

"Perceptions of credit access improved in June."

"Households’ view on personal financial situations improved in June."