The BIE was created to measure the year-ahead inflationary sentiments of businesses in the Sixth District. It also helps inform our view of the sources of cost changes and provides insight into the factors driving business' pricing decisions.

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Business Inflation Expectations Increase to 1.7 Percent - June 2020

• Inflation expectations: Firms' year-ahead inflation expectations increased somewhat to 1.7 percent, on average.

• Current economic environment: Sales levels and profit margins "compared to normal" improved over the month but remain at historically low levels. Year-over-year unit cost growth remains at 1.2 percent, on average.

• Quarterly question: Firms' long-term (per year, over the next five to 10 years) inflation expectations went relatively unchanged at 2.5 percent, on average.

• Special question: Firms indicated whether they requested federal financial assistance. They then provided a breakdown of which programs they applied to, which programs they received funds from, and how much they expect to have to repay.