The inflation expectations of businesses continued to climb in May, adding to concerns that the recent energy shock-driven rise could prove more pervasive and persistent than hoped.
The Federal Reserve Bank of Atlanta’s monthly survey of businesses in the American southeast found that costs are expected to climb 2.4 percent over the next twelve months, up from 2.3 percent last month. This is the third consecutive monthly increase since expectations fell to just under two percent in February, the lowest since December 2020.
Inflation expectations remain far below their December 2022 peak of 3.8 percent but are now once again significantly above…
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