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According to the New York Fed's survey of consumer expectations, released on Monday, the U.S. one-year ahead inflation expectations were 2.7% in April, down from 2.9% in March. It was the lowest level since mid-2013.
The U.S. three-year ahead inflation expectations rose to 3.0% in April from 2.9% in March.
The Fed wants to hike its interest rate later this year but wants to be sure that the consumer price inflation is on track to reach its 2% target.
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