US consumers’ median one-year inflation expectations were unchanged at 3.6% in August 2026s, according to the Federal Reserve Bank of New York’s Survey of Consumer Expectations. However, expected price growth for gas rose 1.7 percentage points to 4.6%, while food expectations increased 0.3 percentage point to 5.3%. Medical-care price expectations rose 0.2 percentage point to 9.1%. Expectations for college education costs increased 0.3 percentage point to 6.1%, while rent expectations climbed 0.7 percentage point to 6.6%. Meanwhile, the five-year-ahead measure was unchanged at 3%, while three-year-ahead expectations edged down 0.1 percentage point to 3.2%. Elsewhere, median expectations for one-year-ahead earnings growth increased slightly to 2.9%. Concerns about the labour market also intensified, with the mean probability that unemployment will be higher in a year rising 1.6 percentage points to 44.4%, the highest level since April 2020.