Americans' inflation expectations jump to new high: Survey

By Ovunc Kutlu

ANKARA (AA) - Americans' inflation expectations have jumped to a new record high, according to a survey released Monday by the New York Federal Reserve.

The median expectation for the survey in November showed that Americans expect inflation to hover at 6% a year from now, according to the Survey of Consumer Expectations.

This is the highest level for the gauge since its launch in June 2013.

The consumer expectation for inflation has also climbed for the 13th month in a row.

Inflation expectations over the next three years, on the other hand, declined slightly to a median level of 4%, marking the first decline in six months.