US inflation expectations surge to highest level since 2013

Americans' inflation fears skyrocketed to another record high in September, driven by the rising price for an array of consumer goods, according to a Federal Reserve Bank of New York survey published Tuesday.

The median expectation is that the inflation rate will be up 5.3% one year from now, the 11th consecutive monthly increase and another new high for the gauge, according to the New York Federal Reserve's Survey of Consumer Expectations. Inflation expectations over the next three years increased to a median of 4.2%, a third monthly increase and the highest rate since...