US consumers nudged their short-term inflation outlook higher in July, while keeping longer-run views broadly steady, according to the New York Federal Reserve’s monthly Survey of Consumer Expectations released Thursday. Median one-year-ahead inflation expectations rose to 3.1% from 3.0% in June, the first increase in three months. The three-year horizon held at 3.0%, and the five-year gauge climbed to 2.9% from 2.6%, remaining below the peak reached in 2024. Respondents also maintained their outlook for home-price gains at 3%, and reported improved confidence about their current finances and prospects over the next year. More households expect credit to become easier to obtain, though assessments of the labor market were mixed. The survey precedes next week’s consumer-price report. Goldman Sachs on Thursday projected a 0.33% monthly rise in July core CPI, implying a 3.08% year-over-year increase—slightly above the consensus 0.3% estimate.