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What inflation is and how it impacts you

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Americans’ expectations for inflation over the next few years also hit its highest level in nearly a decade, according to another report by the Federal Reserve Bank of New York.  

Overall, the expectation is that the inflation rate will be up to 3.4% one year from now — its highest level since September 2013 — and at 3.1% three years from now, the Fed survey found.

How inflation affects you

For the average consumer, some inflation isn’t necessarily bad, particularly compared to last year when the Covid crisis caused a widespread shutdown of the U.S. economy.

“Price rebounds coming out of a recession is normal,” said Greg McBride, chief financial analyst at Bankrate.com.

Many households…



Source cnbc.com

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