US consumers' inflation expectations rise in February

By Aysu Bicer

ANKARA (AA) - The Federal Reserve Bank of New York's February survey on Monday showed American consumers' short- and medium-term inflation expectations rose again in February.

According to the results of the survey, done with the participation of approximately 1,300 households, median one-year-ahead inflation expectations climbed to 6% in February from 5.8% in January.

"The increase was widespread across age, education, and income groups, but largest for the respondents without a high school degree," it said.

Median expectations for about year-ahead price changes for food and gas went up by 3.3 and 1.5 percentage points to 9.2% and 8.8%, respectively, while the expectation for a rent hike was 10.1%.

The US Consumer Price Index (CPI) rose 7.9% annually in February, the biggest increase since 1982.