Inflation & Prices
US Consumers’ Inflation Views Ease for Next Year But Worsen for Long Term
- Year-ahead expectations dip to lowest in a year, Fed bank says
- Food prices seen rising 6.9% over next year, survey shows
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Consumers see the US inflation rate cooling modestly over the next year but are less optimistic in the longer term, according to the latest survey by the Federal Reserve Bank of New York.
Median one-year ahead inflation expectations fell to 5.44% in September, down from 5.75% in the prior month and the lowest in a year, the regional Fed bank said in a report Tuesday. Three years from now, they see prices climbing 2.91%, up from 2.76% in August. Inflation views for five years ahead also rose.