Consumer Inflation Hits New High Of 6%

New York, New York – Consumer inflation forecasts in the United States increased to a new record high of 6% in November 2021, up from 5.7 percent in October.

Expectations for household spending growth increased by 0.3 percentage points to 5.7 percent, a new series high, with the highest increase indicated for respondents with yearly household incomes less than $50,000.

Projected home price increase fell 0.6 percentage points to 5.6 percent, the lowest level since March, while expected earnings growth fell 0.2 percentage points to 2.8 percent, reversing a 0.2 percentage point decrease from October’s series high.

Meanwhile, three-year medium-term inflation predictions fell to 4% from 4.2 percent, the first decrease since June 2021 and only the second decline since October 2020, driven by respondents without a college degree.