September 10, 2018 / 4:12 PM / a year ago

U.S. consumers' one-year inflation outlook highest in over 3 years: NY Fed survey

People are reflected in a mirror as they shop in New York November 29, 2013. REUTERS/Carlo Allegri/File Photo

NEW YORK (Reuters) - U.S. consumers’ one-year inflation expectations strengthened to a level not seen in more than three years, while their three-year outlook on price growth rebounded, according to a Federal Reserve Bank of New York survey published on Monday.

The survey of consumer expectations, which the Fed considers along with other data on U.S. price pressures, showed consumers’ one-year inflation outlook climbed to 3 percent last month, a level last seen in June 2015. It had been at 2.98 percent for four straight months.

The survey’s three-year inflation measure bounced back up to 3.00 percent in August from July’s 2.88 percent which was the lowest level since February.

The New York Fed survey is done by a third party that taps a rotating panel of about 1,300 household heads.

Reporting by Richard Leong; Editing by Chizu Nomiyama

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