Inflation Remains Top Concern for Americans as Key Report Looms

Surveys show persistent inflation worries, with rising costs for essentials and upcoming data expected to influence Federal Reserve policy.

Two-thirds of Americans cite inflation as their primary financial concern, with over half believing it will worsen this year, according to a Northwestern Mutual survey.
The Consumer Price Index (CPI) report for February, expected Wednesday, is projected to show a 2.9% annual increase, slightly below January's 3% rise but still above the Federal Reserve's 2% target.
Food prices are anticipated to have seen their largest monthly increase since October 2022, driven by higher wholesale costs, while rent prices are gradually easing core inflation pressures.
Uncertainty surrounding President Donald Trump’s proposed tariffs on major trading partners may elevate inflation further, complicating the Federal Reserve's interest rate decisions at its March 18-19 meeting.
The New York Fed reports stable long-term inflation expectations but rising pessimism about household finances, credit access, and unemployment over the next year.