Near-Term Price Views Surge, Jobs Prospects Sour in Fed Survey

American consumers see higher inflation in the year ahead and are growing more anxious about their future jobs prospects, according to a monthly survey from the Federal Reserve Bank of New York.

Median expectations for year-ahead inflation rose 0.5 percentage point to 3.6% in March, the biggest one month increase in two years. Consumers’ perceptions of inflation in the medium- and longer-term, however, remained stable.