Economic Buzz: New York Fed Survey Indicates Highest Near-Term Inflation Expectations

12 Jul 2022 , 09:39 AM

Consumers inflation expectations over the next year hit record highs, though the outlook over the longer term grew a little more optimistic, according to a survey from the New York Federal Reserve. The one-year outlook for inflation rose to 6.8% in June, the highest in a New York Fed survey that stretches back to June 2013. Expectations diminished for ensuing years. The three-year outlook fell to 3.6% while the five-year outlook edged down to 2.8%. The Survey of Consumer Expectations comes as the Fed is raising interest rates to address inflation running at its highest level since 1981. Powered by Commodity Insights