Inflation expectations report shows American Consumers are hopeful

(New York, NY) -- American consumers are hopeful they'll get some relief from soaring inflation.

That's according to the New York Fed's Survey of Consumer Expectations.

Folks put the one year inflation number at just over four-point-two percent. That's a drop of eight-tenths of a point and the lowest number in nearly two years.

Despite that, respondents believe home prices will rise by nearly one-and-a-half percent.