US Consumer Inflation Expectations Jump to 3.9% in One Year

US one-year inflation expectations surged to 3.9% in September from 3.6%, the highest since May 2023, per NY Fed data. Three-year expectations rose to 3.25% from 3.19%, while five-year held at 3.0%. The sharp near-term jump signals households expect faster spending and higher commodity prices, weighing on Fed rate-cut expectations and supporting USD.