American consumers don’t expect much inflation in the next year

One of the questions on theNew York Fed’s Survey of Consumer Expectationsasks respondents what they think inflation will look like in the near future.

The median consumer’s expected one-year ahead inflation rate has been on a mostly downward trend since the New York Fed began the survey in June 2013. In April, the indicator ticked slightly higher up from recent lows, with the median consumer expecting a 2.61% inflation rate over the next year.

Business Insider/Andy Kiersz, data from New York Fed