U.S. consumer inflation expectations rose for the third consecutive month in September, reaching the highest level in five months, new data from the Federal Reserve Bank of New York show.
Last month’s median inflation expectations for the year ahead rose to 3.4 percent from 3.2 percent in August, according to the New York Fed’s latest Survey of Consumer Expectations, released on Oct. 7. The jump was driven primarily by those with household incomes under $50,000 and at most a high school education.
The three-year forecast remained unchanged at 3 percent, while the five-year outlook increased to 3 percent from 2.9 percent.
Median year-ahead commodity price change expectations rose for rent, gas, and food, while the projections for college education costs declined….