Americans have mixed expectations on inflation rates over the coming years, even as inflation has remained below the 3 percent level continuously for half a year, according to a survey from the Federal Reserve Bank of New York.
“Median inflation expectations were unchanged at 3.0 percent at the one-year horizon, increased to 3.0 percent from 2.6 percent at the three-year horizon, and declined to 2.7 percent from 2.9 percent at the five-year horizon,” said the Jan. 13 Survey of Consumer Expectations from the bank.
People’s expectations regarding year-ahead prices for food increased while gas, college education, medical care, and rent are predicted to go down. In the medium term, expectations for home price growth rose….