Inflation levels across the United States are expected to surge to yet another record high, according to the Federal Reserve Bank of New York’s latest monthly Survey of Consumer Expectations (SCE) published on Monday. The SCE contains information about how consumers expect overall inflation and prices for food, gas, housing, and education to behave. The report is based on a rotating panel of 1,300 households, and respondents participate in the panel for up to 12 months. As per the survey, the median expectation is that the inflation rate will be up 5.7 percent one year from now, a 0.4 percentage point jump from the previous month, which also marks the highest level for the gauge since its launch in June 2013. The October increase marks the 12th consecutive increase and was most pronounced among respondents who have at least a college degree and for people between the ages of 40 and 60. After increasing for three …
Inflation Levels Across United States Expected to Surge to Another Record High: Federal Reserve Survey
November 9, 2021
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