A New York Fed survey showed that consumers' long-term inflation expectations remained stable.

According to ME News, a New York Federal Reserve survey released on May 7 (UTC+8) showed that despite renewed price pressures from the Iran war, U.S. consumers' long-term inflation expectations remained stable in April. Inflation expectations for the next 12 months rose slightly, but expectations for inflation over the next three or five years remained unchanged compared to the March survey, indicating that consumers believe the price shock from the war will be temporary. The survey also showed that consumers are uneasy about the labor market, believing there is a 44% probability of an increase in the unemployment rate over the next 12 months, the highest level in a year. (Source: ME)