Companies across the United States say they expect inflation to remain subdued this year, according to surveys from Federal Reserve banks that show business price expectations falling to their lowest levels since before the 2022 inflation surge.
The Cleveland Fed’s Survey of Firms’ Inflation Expectations, released Tuesday, found businesses expect general inflation of just 3.1 percent over the next 12 months, down from a peak of 3.9 percent last year. During President Joe Biden’s single term in office, the year-ahead expectation figure rose above seven percent.
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