6 August
Inflation expectations remain elevated
The Conference Board found that 12-month average inflation expectations fell to 6.8% in September from 7% in August. Concerns about inflation dissipated further in September and are now at their lowest level since the beginning of the year.
However, even with this improvement, Americans expect inflation to remain high for a long time.
In the Federal Reserve's summary of economic forecasts released last week, officials expect headline inflation to fall to a range of 2.4% to 4.1% in 2023, which is below the current rate of 6.3%.
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