Firms’ own one-year-ahead price expectations rose to +3.1% in Q1 2026, down from +2.6% in Q4 2025, indicating anticipated faster price increases.

• Reported price growth over the past year was +2.8% (Q4 2025: +3.0%), remaining below expected future increases and implying modest acceleration ahead.

• Mean U.S. inflation expectations held at +3.6% and median at +3.0%, unchanged and at the lowest level in over a year.

• Expected compensation growth was +3.2% (Q4 2025: +3.3%), showing stable wage expectations near pre-pandemic levels.

• Long-run median inflation expectations declined to +3.0% (Q4 2025: +4.0%), suggesting a softer long-term outlook.

• Long-run mean inflation expectations rose to +7.4% (Q4 2025: +6.0%), indicating dispersion in longer-term expectations.