Survey: Americans believe price hikes will ease

(CNN)– Americans expect that inflation will continue to wane during the next year.

That’s according to a new consumer survey data released Monday by the Federal Reserve Bank of New York.

The survey, conducted in June, found that year-ahead inflation expectations declined for the second month in a row. It went to 3% from 3.1%.

Those surveyed said they expect prices to rise much more slowly for food, gas, rent, medical expenses, college costs, and gold than the month before.