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US Inflation Forecasts Marked Higher for 2023, Survey Shows

  • Fed’s preferred price measure seen at 2.5% at end of next year
  • US recession probability at nearly even odds: Bloomberg survey
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Have We Reached Peak Inflation?

Economists boosted their inflation estimates for each quarter in 2023, a potentially worrying sign for Federal Reserve policy makers trying to keep price expectations anchored.

The personal consumption expenditures index, which the Fed uses for its inflation target, is seen averaging an annualized 2.5% at the end of next year, up from 2.3% in July, the latest Bloomberg monthly survey showed.