Inflation outlook hits record low in New York Fed survey

In July, consumers grew more optimistic about future inflation, according to a New York Federal Reserve report.

The three-year inflation outlook dropped to a record low of 2.3%, though consumers still expect inflation to remain elevated in the short term.

This report comes as investors anticipate potential interest rate cuts by the Federal Reserve.

While inflation expectations for gas and food prices decreased slightly, concerns rose for costs related to medical care, college education, and rent, CNBC has reported.

read more: https://www.cnbc.com/2024/08/12/three-year-inflation-outlook-hits-record-low-in-new-york-fed-consumer-survey.html

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