Inflation expectations at record level as country grapples with higher prices
(Worthy News) – Short-term inflation expectations are at their highest levels since the Federal Reserve Bank of New York began surveying consumers nearly a decade ago.
The regional Fed bank released its October Survey of Consumer Expectations Monday and found that median expectations are that prices will rise by 5.7% over the next year, a 0.4% increase from the previous month and a record since the metric began to be analyzed in 2013.
Inflation rose 5.4% for the year ending in September, the highest pace since 2008, the Labor Department announced last month. Prices also rose at the highest rate in 30 years in the gauge that the Federal Reserve favors. [ Source: Washington Examiner (Read More…) ]
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