Consumers haven’t been able to catch a break from decades-high inflation, and a new Bankrate poll casts doubt on Americans feeling relief from those price pressures anytime soon.
Just 18% of economists in Bankrate’s Second-Quarter Economic Indicator poll said they anticipate inflation to be less than expected this year, the smallest share of respondents. The largest cluster (41%) foresee inflation coming in as expected, while almost a third (29%) see inflation heating up faster. Two respondents (reflecting 12%) didn’t provide a forecast.
That prediction is even amid expectations that the Fed will raise interest rates to 3.25-3.5 % by the end of the year, reflecting the fastest pace of tightening in a single year since the 1980s.
