Inflation expectations rebound on record-high jump in gas outlook: NY Fed survey


A Sheetz customer gets gasoline at a gas station in Plains, Pennsylvania, U.S. October 19, 2022. 

Aimee Dilger | Reuters

Americans grew more worried about inflation in the October, with fears emanating from an expected burst in gasoline prices, a Federal Reserve survey showed Monday.

Inflation expectations for the year ahead rose to 5.9%, up half a percentage point from September to the highest level since July, according to the New York Fed’s monthly Survey of Consumer Expectations. Three-year expectations also accelerated to 3.1%, while the five-year outlook rose to 2.4%, respective increases from 2.9% and 2.2%.

At the root of the heightened worries was an expected jump in prices at the…


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