The NY Fed is out with surveyed results on inflation and they are positive but still elevated:

  • Year ahead expected inflation falls to 5.2% from October's 5.9%
  • Expected inflation marks record month to month decline in November
  • three year ahead expected inflation at 3% versus 3.1% in October
  • five year and expected inflation ebbs to 2.3% from 2.4% last month
  • expected home price rise weakest since May 2020 of 1%
  • expected household income gain record at 4.5%
  • your gasoline prices rise seen at 4.7% versus 5.3% last month

although better than the prior month, the data still suggest that wages will be elevated and so inflation in relation to the feds target near 2%