The New York Federal Reserve stated Monday in its latest Survey of Consumer Expectations that 1-year inflation expectations increased from 4.2% to 4.7% in March. According to the report, the figure for the 3-year inflation expectations came in at 2.8%, up from 2.7% last month, while for the 5-year declined to 2.5% from 2.6%. “Credit access perceptions deteriorated, with the share of households reporting that it is harder to obtain credit than one year ago rising and reaching a series high,” the report said. NN: this was not suppose to happen.