Mubasher: Inflation expectations in the United States increased in December to the highest level in months, according to a survey by the Federal Reserve Bank of New York published on Tuesday.
Younger and middle-age workers are expecting higher prices and earnings, as the survey showed that respondents were more optimistic about earnings growth.
Expectations for the upcoming year jumped to 2.82% last month, from 2.61% in November, the highest reading since February, as cited by Reuters.
The three-year inflation measure reached 2.89%, up from 2.78% in the previous month, reaching its highest point since April.
The Federal Reserve is targeting an annual inflation rate in 2%.