Consumer expectations for US inflation over the coming years declined sharply in the latest survey by the Federal Reserve Bank of New York, providing policy makers with good news as they battle to curb price pressures. Expectations for US inflation three years ahead fell to 2.8% in August, from 3.2% the previous month and 3.6% in June, according to the New York Fed’s monthly Survey of Consumer Expectations released Monday. The outlook for inflation one year ahead declined to 5.7% from 6.2% in July. On a five-year horizon, consumers now expect 2% inflation, versus 2.3%. It was the fourth straight monthly decline in ... (full story)