The median rate of perceived inflation over the previous 12 months decreased further, for the sixth consecutive month, to 5.0%, from 5.5% in February. Median expectations for inflation over the next 12 months also edged down, to 3.0% from 3.1%. They are now at their lowest level since December 2021. Median expectations for inflation three years ahead remained unchanged at 2.5% for the fourth consecutive month. Inflation expectations at the one-year and three-year horizons remained well below the perceived past inflation rate. Uncertainty about inflation expectations over the next 12 months edged down and is now at ... (full story)