U.S. consumers’ outlook for inflation climbed to a new high last month as price expectations for food and rent soared.
consumer survey of consumer expectations
The data suggest that consumers anticipate more pain from current wave of high inflation before it eases. They expect home prices to rise 6% over the coming year — up from 5.7% in February. Expectations for year-ahead rent growth edged up to 10.2%, while food prices are now expected to increase by 9.6%.
The Federal Reserve last month started what is expected to be a series of interest rate hikes to tame inflation.
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