Inflation Hits Highest Level in 3 Years – What Does This Mean for Your Money?
Is inflation about to get even worse? The latest survey from the New York Federal Reserve shows that consumers expect prices to rise by 3.9% over the next 12 months, the highest level since May 2023. This is on top of already soaring energy costs, with gas prices up nearly 4% in August alone. Meanwhile, the Fed is expected to keep benchmark rates steady, but markets are pricing in a more aggressive central bank in the years ahead. The survey also found that household spending growth is expected to hit 5.5%, up from 5.2% in August. As the economy continues to struggle with inflation, will the Fed be able to get a grip on it? Don't miss our latest updates on the state of the economy. Subscribe to our channel to stay informed and ahead of the curve.
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