{"id":297181,"date":"2021-07-12T22:51:04","date_gmt":"2021-07-12T19:51:04","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/inflation-fears-hit-record-high-in-june-warns-ny-fed\/"},"modified":"2021-07-12T22:51:04","modified_gmt":"2021-07-12T19:51:04","slug":"inflation-fears-hit-record-high-in-june-warns-ny-fed","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/inflation-fears-hit-record-high-in-june-warns-ny-fed\/","title":{"rendered":"#Inflation fears hit record high in June, warns NY Fed"},"content":{"rendered":"

“#Inflation fears hit record high in June, warns NY Fed<\/strong>”<\/p>\n

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Americans recently polled by the Federal Reserve Bank of New York said they see inflation rising to 4.8 percent over the next 12 months, a survey record. <\/p>\n

The Fed\u2019s Consumer Expectations study, <\/a>which samples a rotating panel of 1,300 households, showed that Americans in June predicted a media<\/a>n 12-month inflation rate of 4.8 percent, up 0.8 percentage points since May, as costs soared on everything from big-ticket items to groceries. <\/p>\n

Its the highest inflation expectation reported since the NY branch of the central bank kicked off the series<\/a> seven years ago.<\/p>\n

Americans told the NY Fed that they see a median inflation rate of 3.6 percent over the next three years \u2014 unchanged from May but still well above the 2 percent inflation rate needed to maintain a healthy economy.<\/p>\n

\"Gas
Rising prices of goods like gas and food are causing Americans to worry about prolonged inflation. <\/figcaption>
Getty Images<\/span><\/figcaption><\/figure>\n

Americans\u2019 inflation fears soared in tandem with surging costs, which jumped 5 percent in May from a year earlier as measured by the Labor Department\u2019s Consumer Price Index \u2014 the CPI\u2019s biggest jump since 2008. <\/p>\n

The Federal Reserve has tools to combat inflation, but has so far held off on raising interest rates because Fed officials see the problem as \u201ctransitory.\u201d <\/p>\n

Fed Chairman Jerome Powell, for example, has predicted that the bump in costs will fade as the supply of goods and services that were hampered due to the pandemic ramps up again. <\/p>\n

The NY Fed survey showed that Americans in June said they expect the price of homes to continue rising over the next year by 6.2 percent. That is flat compared with May, but still much higher than last year\u2019s average of 3.7 percent. <\/p>\n

The survey also showed that Americans see the cost of medical care, college and rent continuing to rise, while predicting the prices of commodities like gold, gasoline and food could dip slightly. <\/p>\n

Inflation has been a hot-button issue as the economy struggles to rebound from its pandemic slumber. If left unchecked, rising costs could bring the economy\u2019s recovery to a screeching halt, further hampering jobs growth. <\/p>\n

\"Customers
Americans expect that the inflation rate will be up 4.8 percent one year from now, according to a June study from the New York Federal Reserve. <\/figcaption>
Getty Images<\/span><\/figcaption><\/figure>\n

The unemployment rate has moderated in recent months to 5.9 percent, but 9.5 million Americans are still out of work, according to the US Bureau of Labor Statistics.<\/p>\n

Consumers surveyed by the NY Fed reported growing confidence in the jobs market, however. The average person surveyed who said they see the US unemployment rate rising a year from now dropped to a low of 30.7 percent in June, down from 31.9 percent in May. <\/p>\n

More inflation indicators are coming this week with the June consumer price index to be released on Tuesday.\n <\/p><\/div>\n

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Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

“#Inflation fears hit record high in June, warns NY Fed” Americans recently polled by the Federal Reserve Bank of New York said they see inflation rising to 4.8 percent over the next 12 months, a survey record. The Fed\u2019s Consumer Expectations study, which samples a rotating panel of 1,300 households, showed that Americans in June…<\/p>\n","protected":false},"author":1,"featured_media":297182,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2021\/07\/inflation-us-hp.jpg?quality=90&strip=all&w=1200","fifu_image_alt":"","footnotes":""},"categories":[70897],"tags":[111664,5069,70550,70551,78738,5071],"class_list":["post-297181","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-7-12-21","tag-economy","tag-federal-reserve","tag-inflation","tag-jerome-powell","tag-unemployment"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/297181","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=297181"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/297181\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/297182"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=297181"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=297181"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=297181"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}