the public's expectations for short-term inflation in the United States remained stable in January, and future spending is expected to significantly decrease. The survey showed that expectations for inflation levels one year and three years from now remained unchanged at 3% last month, while expectations for inflation levels five years from now rose from 2.7% in December to 3%. In January, the public also predicted that food, gasoline, rent, college, and medical expenses will see greater increases, while expectations for housing prices rose from 3.1% in December to 3.2%. Consumer expectations for future household spending decreased from 4.8% in December to 4.4%, the lowest level since January 2021. However, the report noted that this reading is still higher than the level before the outbreak of the COVID-19 pandemic.