A survey conducted by the Federal Reserve Bank of New York reveals that Americans anticipate high inflation to continue over the next few years, with expectations of a 3% inflation rate in one year and around 2.9% in three years.
Americans are bracing for high inflation to remain over the next few years, according to a key Federal Reserve Bank of New York survey published Monday. The median expectation is that the inflation rate will be up 3% one year from now, according to the New York Federal Reserve's Survey of Consumer Expectations , unchanged from the previous months. Consumers also anticipate that inflation will remain high in the coming years, projecting that it will hover around 2.
While the inflation outlook for the next year has held steady, Americans expect the cost of necessities such as food, gasoline, medical care, rent and college tuition over the next 12 months. The survey, based on a rotating panel of 1,300 households, plays a critical role in determining how Fed policymakers respond to the inflation crisis.
Americans Inflation Federal Reserve Bank Survey Expectations High Inflation Persist
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