Premarket shares: Did US inflation peak in March? People are involved

Premarket stocks: Did US inflation peak in March? Americans are concerned

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Having already hit 7.9% in February, economists are hopeful that rampant inflation peaked in the first quarter. But there’s plenty that will keep prices elevated for the rest of the year, and consumers are concerned. Even as the Federal Reserve has started to tighten monetary policy to get inflation under control, prices are still rising.
A year from now, consumers expect inflation to stand at 6.6%, according to the New York Fed’s Survey of Consumer Expectations. That was a new high for the survey and up significantly from 6% in February.

The reading comes as the war in Ukraine drives up prices for energy and agricultural commodities.

To keep up with rising prices, Americans also expect their household spending to rise in the year to come, the survey found. Spending expectations rose to 7.7%, also a new high for the New York Fed’s survey and the biggest one-month jump since the series began in 2013.

Economists polled by Refinitiv predict the Consumer Price Index for March to hit…

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