US consumer inflation expectations for the year ahead declined to 3.2% in May 2025, from 3.6% in April, the lowest in three months. Year-ahead commodity price change expectations decreased for gas (-0.8 percentage point to 2.7%), medical care (-1.3 percentage points to 7.4%), college education (-1.6 percentage points to 7.5%), and rent (-0.6 percentage point to 8.4%). On the other hand, the year-ahead expected change in food prices increased by 0.4 percentage point to 5.5%, the highest level since October 2023. Meanwhile, inflation expectations for the three-year horizon declined by 0.2 percentage point to 3.0%, and inflation expectations for the five-year ahead horizon declined by 0.1 percentage point to 2.6%.