Americans Brace for High Inflation Over Next Few Years, Though Gas and Rent Costs May Fall
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Americans expect inflation to remain high over the next few years, around 3%, according to a New York Fed survey.
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Consumers anticipate food prices will continue rising, but costs of gas, medical care, and rent may fall.
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Survey plays a role in Fed policymaking, as inflation expectations impact actual inflation.
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Growing concerns about job security and household finances, with unemployment expectations increasing.
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More households reporting it is harder to obtain credit compared to a year ago.
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