Financial experts were disappointed after looking into the latest inflation report.

The consumer price index, a key indicator of the state of inflation was released on Tuesday.

Inflation Is Up


The consumer price index measures the cost of goods and services.

Prior to the report, a study found that the majority of Americans expect high inflation to stick around over the next few years.

That's according to the New York Federal Reserve's Survey of consumer expectations.

"Inflation expectations remained unchanged at the short-term horizon, while increasing at the medium- and longer-term horizons," New York Federal Reserve stated while sharing the results of its latest study.

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New Yorkers also expected salaries would remain unchanged while spending would increase.

Officials expected the inflation rate to be 3 percent a year from now and stay around 2.7 percent for the next three years.

Inflation Rate Up More Than Expected


As it turns out, inflation was up once again. Inflation was slightly higher than analysts were predicting.

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Consumer Price Index Is Up, Experts Surprised

A man opening wallet looking for some money

The consumer price index was up .4 percent for the month of February. It's up 3.2 percent from this time in 2023.

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The good new is the numbers are down from the recent peak in 2022, but still higher than experts predicted, which means New Yorkers are still paying more for goods and services than before.

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The Federal Reserve's goal is up 2 percent.

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The grocery prices have increased in price dramatically the past couple of weeks.

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