U.S. Consumers Expect Rise in Inflation Over the Coming Year

Consumers in the United States expect a rise in inflation, amid the recovery from the coronavirus pandemic, resulting from higher housing prices, as shown by the results of a survey by the Federal Reserve Bank of New York on Monday.

The April survey showed a median annual expectation for the inflation rate at 3.4%, reaching its highest level since September 2013, according to Reuters.

Meanwhile, the expected consumer inflation rate for the coming three years remained at 3.1%.

Housing costs and gas prices are expected to rise by 9.5% and 9.2%, respectively.