Consumers fears about inflation increase over past month, study says

April 11 (UPI) — Consumers are experiencing a record-high fear about climbing prices as inflation concerns continue around the country, according to a new study released Monday by the New York Federal Reserve.

The survey, taken in March, showed while anxiety over inflation in the medium term decreased, short-term inflation worries are currently at high levels. A median of those participating in the survey see inflation rising to 6.6% next year from 6% they saw in February.

Over the next three years, though, they expect to see inflation decrease to 3.7%.

“The decline in medium-term expectations was driven by respondents with no college education and with annual household incomes under $50,000,” the study said. “Disagreement across respondents (as measured by the difference between the 75th and 25th percentiles of inflation expectations) increased at both horizons to new series highs.”

CONTINUE READING AT: UPI

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