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Consumers expect inflation to slow down, a big win for the Fed

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Consumers expect inflation to slow down, a big win for the Fed

Shoppers inside a grocery store in San Francisco, California, U.S., on Monday, May 2, 2022. 

David Paul Morris | Bloomberg | Getty Images

The consumer outlook for inflation decreased significantly in July amid a sharp drop in gas prices and a growing belief that the rapid surges in food and housing also would ebb in the future.

The New York Federal Reserve’s monthly Survey of Consumer Expectations showed that respondents expect inflation to run…

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