INFLATION Expectations: Inflation Expectations Hit All-Time High in N.Y. Fed Survey

                             

Food prices are seen rising by 7.9 percent over the next 12-months. Rent is expected to increase 10 percent. Medical care costs are anticipated to rise 9.7 percent. The general price level is expected to rise 5.2 percent, up from 4.9 percent a month ago.

 Americans are expecting a record deluge of inflation over the next year—and they expect high levels of inflation to stick around for years, according to a report released Monday by the Federal Reserve Bank of New York.

At the same time, expectations for future earnings growth declined, raising the prospect of stagflation.

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