Americans Brace for High Inflation Over Next Few Years, Though Gas and Rent Costs May Fall

Americans expect inflation to remain high over the next few years, around 3%, according to a New York Fed survey.

Consumers anticipate food prices will continue rising, but costs of gas, medical care, and rent may fall.

Survey plays a role in Fed policymaking, as inflation expectations impact actual inflation.

Growing concerns about job security and household finances, with unemployment expectations increasing.

More households reporting it is harder to obtain credit compared to a year ago.