Consumers see inflation easing considerably in the next year, New York Fed survey shows

Consumers grew more optimistic about inflation in November amid expectations that both food and energy price increases would be less severe in the coming year, according to a New York Federal Reserve survey released Monday.

The central bank’s Survey of Consumer Expectations indicated that respondents see one-year inflation running at a 5.2% pace, down 0.7 percentage point from the October reading.

That’s the lowest level for that reading since August 2021 — the early days of the inflation surge that has gripped the economy and pushed the Fed into a...