Monday, May 10, 2021

Americans Fear Highest Price Inflation in Nearly a Decade

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

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

Most alarming, expectations about the cost of rent increased to 9.5% in April.

So much for the expected deflation.

It is only the beginning, folks.


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