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Inflation Expectations Hit Record-High in March

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Inflation is now expected at a faster rate in the short term before slowing down in the medium term.

Source: New York Fed

QQQ is down 1.85%, while SPY is down 1.21%.

Results of the March Survey of Consumer Expectations reveal that inflation is expected to hit 6.6% in the coming year, marking a fresh series high. This compares with February’s 6.0%.

Home price growth for the coming year is expected at 6.0%, up from 5.7% previously. Increases were also seen in expectations for gas and food prices, while rent and medical care were flat. Declines were seen in college education costs.

The one-year-ahead expected earnings growth median was unchanged at 3.0% for the third straight month, with more respondents expecting unemployment to increase in the coming year.

Inflation is expected to decelerate in the three-year ahead period, with respondents predicting it at 3.7% versus the 3.8% recorded in the previous month. This was driven mainly by respondents with no college education and with less than $50,000 annual household incomes.

 

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