American consumers don't expect much inflation in the next year

One of the questions on the New York Fed’s Survey of Consumer Expectations asks respondents what they think inflation will look like in the near future.

The median consumer’s expected one-year ahead inflation rate has been on a mostly downward trend since the New York Fed began the survey in June 2013. In April, the indicator ticked slightly higher up from recent lows, with the median consumer expecting a 2.61% inflation rate over the next year.

NOW WATCH: This ultra-rare Ferrari speedboat is expected to sell for $200,000 at auction

NOW WATCH: Money & Markets videos

Want to read a more in-depth view on the trends influencing Australian business and the global economy? BI / Research is designed to help executives and industry leaders understand the major challenges and opportunities for industry, technology, strategy and the economy in the future. Sign up for free at