US Consumers See Stickier Inflation Ahead, NY Fed Survey Shows
- Labor market sentiment was mixed as credit concerns increased
- Report is latest showing more inflation concerns post-election
A monthly survey showed consumers see prices rising 3.3% over the next year, up half a percentage point from the previous month.
Photographer: Jeenah Moon/BloombergThis article is for subscribers only.
US consumers said they see higher inflation over the next few years than previously thought, a monthly Federal Reserve Bank of New York survey showed, in the latest sign of mounting concerns about prices following November’s elections.
Expected inflation three years ahead rose to 3% in December from 2.6% the month before, according to results of the New York Fed’s Survey of Consumer Expectations published Monday. Expected inflation over the next year was unchanged at 3%, and expected inflation five years ahead declined to 2.7% from 2.9%.