US CONSUMER MEDIUM-TERM INFLATION EXPECTATIONS DROP

U.S. consumers' medium-term inflation expectations eased substantially in July even as their near- and longer-term outlooks for price pressures held steady, although households are increasingly worried about staying current on their debt.

The median three-year inflation expectation dropped to 2.3% from 2.9% in June to register its lowest reading since the New York Fed launched the monthly Survey of Consumer Expectations in 2013. The one-year and five-year outlooks held steady at 3.0% and 2.8%, respectively.

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