Americans are bracing for higher prices. The Federal Reserve Bank of New York’s June 2026 Survey of Consumer Expectations found that median one-year-ahead inflation expectations climbed to 3.7%, up 0.2 percentage points from May. That’s the highest reading since September 2023.
The survey covered roughly 1,300 household heads across June and represents a reversal from the relatively stable or declining short-term expectations recorded in May.
Where the pain is coming from
Two categories drove the bulk of the concern: medical care and rent.
Expected medical care costs jumped 0.5 percentage points to 9.4%. Rent expectations rose by an even sharper 0.9 percentage points, landing at 8.3%.
