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Americans grew more concerned about rising prices in March as vaccination accelerated and the economy slowly reopened.

The median expectation for one-year inflation climbed to 3.2% from 3.1% last month, according to a survey conducted by the Federal Reserve Bank of New York. The estimate for three-year inflation crept to 3.1% from 3%. Both expectations now sit at their highest levels since mid-2014, signaling Americans are gearing up for the recovery to drive a sharp rise in prices.

Within the gauge, expectations for gas and rent inflation rose to record highs of 9.9% and 9.3%, respectively. details ⇒

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