Inflation expectations among U.S. business leaders increased in the second quarter of 2024, according to the Survey of Firms’ Inflation Expectations (SoFIE), which is published by the Federal Reserve Bank of Cleveland. CEOs and other top executives reported in April (2024:Q2) that they expect inflation as measured by the Consumer Price Index to be 3.8 percent over the next 12 months, up from 3.4 percent in January (2024:Q1). The quarterly survey gathers responses from a large representative panel of firms in the manufacturing and services sectors. The Cleveland Fed reports these survey data because business leaders’ ... (full story)