Economics
Inflation Expectations Among U.S. Consumers Hit New Highs in Fed Survey
- Longer-term inflation expectations still well anchored: Fed
- New York Fed releases monthly Survey of Consumer Expectations
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U.S. consumers’ expectations for inflation continued to rise in September amid elevated price pressures, according to a Federal Reserve Bank of New York survey.
American household expectations for inflation one year ahead rose to 5.3% last month from 5.2% in August, while median expected inflation three years ahead rose to 4.2% from 4%, results of the New York Fed’s monthly Survey of Consumer Expectations, published Tuesday, showed. Both marked the highest readings on record in the survey’s eight-year history.