A New York Federal Reserve survey published on Monday found that many American consumers expect inflation to remain abnormally high in the coming years.
Americans are bracing for high inflation to stick around 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 3.2% one year from now, according to the New York Federal Reserve's Survey of Consumer Expectations, down slightly from the 3.3% reading recorded in April. But consumers anticipate that inflation will remain high in the coming years.
While Americans think that inflation will decline slightly over the next year, they expect the cost of necessities such as gas, food and rent will be unchanged. They are also anticipating a sharp 0.4% rise in the price of medical care, to 9.1%, and a 0.6% drop in the cost of college, to 8.4%. 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.
United Kingdom Latest News, United Kingdom Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
New York Liberty | FOX 5 New YorkNews, stories and updates on the New York Liberty
Read more »
New York City, New York (US) job with Springer Nature LtdJob Title: Chief Editor Organisation: Nature Ecology & Evolution Location: New York, Berlin or Heidelberg - Hybrid working Closing date: June 23rd 2024 Springer Nature, the publisher of Nature, is looking to recruit a Chief Editor for Nature Ecology & Evolution.
Read more »
New York Yankees' Legend Derek Jeter Finally Sold His Castle in New YorkAfter several years of trying to sell, former New York Yankees' star and Baseball Hall of Famer Derek Jeter has officially sold his castle in New York. Yes, he really had a castle-style house, complete with 12 bathrooms and four kitchens.
Read more »
'ABSOLUTELY INSANE': Americans react to Trump's stunning conviction in New York trialAmericans across the country reacted to to former President Trump's conviction in New York with a mixture of outrage, jubilation and shoulder-shrugging.
Read more »
Some Black Americans find irony in Trump's reaction to his conviction in New York trialFormer President Donald Trump railed against what he called the injustice of his guilty verdict in a courthouse where five Black and Latino teens were wrongly convicted in a case Trump supported vociferously.
Read more »
Inflation outlook rises, fueled by expected increases for housing costs, New York Fed survey showsOn a one-year basis, the expectation increased to 3.3%, up 0.3 percentage point from March and the highest since November 2023.
Read more »