One-year inflation expectations fell 0.1 percentage point to 3.6% while three- and five-year views held steady at 3.3% and 3.0%.
US households lowered their one-year inflation expectations to 3.6% in July from 3.7% in June, according to the latest New York Fed survey. Three- and five-year expectations remained unchanged at 3.3% and 3.0%, respectively.
The survey showed gas price expectations rebounded slightly after a sharp June decline. Labor market views were mixed, with higher unemployment and job loss expectations offset by improved job-finding prospects.
The US Dollar Index held near 99.60 following the release, showing little reaction. The greenback remained weaker on the day after disappointing Nonfarm Payrolls data earlier.