NY Fed: 1-year consumer inflation expectations fall to 10-month low of 5.75%

The Federal Reserve Bank of New York's monthly Survey of Consumer Expectations showed on Monday that the US consumers' one-year inflation expectation declined to a new 10-month low of 5.7% in August from 6.2% in July, as reported by Reuters.

Consumers' 3-year inflation expectation declined to the lowest in nearly two years at 2.8% in August from 3.2% in July. 

Moreover, the publication revealed that consumers saw a lower chance of losing a job in August than in July and a higher likelihood of finding a new job should they lose one. Additionally, consumers in August saw the lowest chance of quitting their current job since March 2021.

Market reaction

The greenback struggles to find demand after this report and the US Dollar Index was last seen losing 0.72% on a daily basis at 108.18.