Us consumer expectations for medium-term inflation rose to their highest level on record, according to a new survey released by the Federal Reserve Bank of New York (Federal Reserve Bank of New York) on Monday.
According to the survey, consumers expect inflation to reach 4% over the next three years, up 0.3 percentage points from last month's forecast.
In august, the median annual inflation expectation also rose 0.3 percentage points to 5.2 per cent, the 10th consecutive monthly rise and the highest since 2013. Us consumers expect higher increases in prices such as rent and food, which account for a large proportion of total consumer spending and cannot be easily replaced, according to a Fed survey.
However, some economists surveyed expect inflation to fall slightly. According to the latest forecast survey released by the media on September 10, the average expected inflation is 4.3% this year and 3% in 2022.
At the same time, expectations that wages will keep pace with price growth are beginning to cool. The median expectation of ordinary people for wage growth in the coming year fell 0.4 percentage points to 2.5%. However, overall expectations for household income rose 0.1 percentage points to 3 per cent, setting a series of new highs.