Americans’ Outlook for Medium, Longer-Term US Inflation Climbs
- New York Fed survey shows rebound in 3-year price projections
- Results underscore Fed’s desire for more evidence before cuts
Shoppers in Rosemead, California.
Photographer: Frederic J. Brown/AFP/Getty ImagesThis article is for subscribers only.
US consumer expectations for inflation over the next three years climbed in February — and increased even more sharply for the five-year horizon — a Federal Reserve Bank of New York survey showed.
Median three-year-ahead inflation expectations rose to 2.7% last month, rebounding from a record low in January. Five-year expectations, meanwhile, climbed to a six-month high of 2.9%. Projected year-ahead inflation was unchanged from January at 3%, the data out Monday showed.