NY Fed Survey shows jump in Inflation expectations

(New York, NY) -- Consumers expect to see a jump in inflation in the coming months.

A new survey by the New York Federal Reserve shows consumers expect prices to rise another half-percent in the year ahead.

It marks the first time the short-term outlook increased since October.

It also equates to an annual inflation rate of four-point-seven percent which is well above the Fed's two percent target.