U.S. consumers increased their short-term and medium-term inflation expectations again in September, but they lowered their views on how much home prices, fuel costs, and other expenses will rise over the next year, according to a survey released on Tuesday by the New York Federal Reserve.
Median expectations for what inflation will be over the next year rose for the eleventh consecutive month to 5.3 percent, the highest level since the survey was launched in 2013. Expectations for what inflation will be in three years rose to a median of 4.2 percent, up from 4.0 percent in August, also reaching another series high.
