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Inflation Outlook Hits New High in New York Fed Consumer Survey

Inflation expectations among U.S. consumers rose to a new high for the coming year after months of soaring prices, according to the latest Federal Reserve Bank of New York survey.

Household expectations for inflation in the next 12 months climbed to 5.7% in October from 5.3% the previous month, according to the monthly Survey of Consumer Expectations published on Monday. Median expected inflation over the next three years held steady at 4.2%. Both figures are the highest since the survey began in 2013.