Shoppers See Lower Inflation on the Horizon

Consumers expect inflation to stay high over coming months but decline in the years ahead to levels closer to those seen before the pandemic, according to recent surveys likely to be welcomed by the Federal Reserve.

If shoppers keep thinking inflation will fall, that will help cause it to do so, Fed officials believe. This could mean that the central bank wouldn't have to raise interest rates as high as otherwise to slow price increases.

Fed officials are monitoring expectations, among many economic factors, as they weigh how much they need to raise

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