US Consumers See Higher Near-Term Inflation, Tighter Credit
- Expectations rose for one-, three-year horizons: NY Fed survey
- Consumers said it was harder to tap credit in September
A shopper at an H Mart grocery store in Fairfax, Virginia. Fed officials have been on an aggressive interest-rate hiking campaign to tame the hottest inflation in a generation.
Photographer: Al Drago/BloombergThis article is for subscribers only.
US consumers expect slightly higher inflation over the next few years and their views on current and future credit conditions deteriorated in September, according to a Federal Reserve Bank of New York survey.
The median inflation expectation three years out rose to 3% from 2.8% in August, the highest reading in almost a year, according to data published Tuesday. The outlook for price growth a year from now rose to a three-month high of 3.7%.