April 9, 2018 / 3:06 PM / 2 years ago

U.S. inflation expectations flat after gains: NY Fed

FILE PHOTO: A man in short sleeves carries shopping bags near Herald Square during unseasonably warm weather in the Manhattan borough of New York December 27, 2015. REUTERS/Pearl Gabel/File Photo

NEW YORK (Reuters) - U.S. inflation expectations remained largely flat in March, holding the gains of the last several months, 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 median one-year ahead expectations edged lower to 2.75 percent, from 2.83 percent in February. The three-year measure was up a bit to 2.91 percent, from 2.88 percent previously.

Both gauges have risen this year, making up ground after years in which they slipped since the survey began in 2013.

The U.S. central bank raised rates last month and aims to hike two or three more times this year, depending on whether overall price measures continue to show strength. The Fed’s preferred inflation measure has been below a 2-percent target for more than five years.

The New York Fed survey is done by a third party that taps a rotating panel of about 1,200 household heads.

Reporting by Jonathan Spicer; Editing by Chizu Nomiyama

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