A survey published by the New York branch of the Federal Reserve on Monday showed that US consumers' expectations of the size of the change in inflation over the next year and the next three years rose last month to the highest levels since 2013.
Inflation expectations for the next year rose for the 10th consecutive month, to an average of 5.2%, according to the monthly survey of consumer expectations.
Inflation expectations for the next three years rose to 4.0% on average. Both numbers are the highest since the survey began in 2013.
US central bank officials are closely monitoring inflation expectations as they try to assess whether price pressures provoked by the coronavirus pandemic will have a lasting effect on the economy.
