The August 2016 Survey of Consumer Expectations shows an increase in both short-term and medium-term inflation expectations. In particular, the median year-ahead inflation expectations reached its highest level of the year. Median expected household income growth also increased (for the third month in a row) to its highest level since May of 2015. Labor market expectations were mixed: Expectations about finding a job and earnings growth both improved, but the perceived probability of losing a job and expectations about the unemployment rate both increased slightly.
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