Median one-year-ahead inflation expectations in the US declined to 3% in February 2026, the lowest in seven months, compared to 3.1% in January. Consumers expect a slowdown in prices for food (-0.4 percentage point to 5.3%), medical care (-0.1 percentage point to 9.7%) and rent (-0.9 percentage point to 5.9%). On the other hand, median year-ahead price change expectations increased by 1.3 percentage points for gas to 4.1% and 0.1 percentage point for the cost of a college education to 9.1%. Inflation expectations remained steady at 3% for both the three-year and five-year-ahead horizons.