Business executives surveyed by the Cleveland Federal Reserve expect the CPI inflation rate to be 3.3% in the next year, a slight decrease from 3.7% in the second quarter. They do not expect significant changes in wage growth and employment levels. The growth rate of R&D expenditure is expected to slow. The next year is expected to be 2.0%, down from 3.1% in last year's survey.

Business executives surveyed by the Cleveland Federal Reserve expect the CPI inflation rate to be 3.3% in the next year, a slight decrease from 3.7% in the second quarter. They do not expect significant changes in wage growth and employment levels. The growth rate of R&D expenditure is expected to slow. The next year is expected to be 2.0%, down from 3.1% in last year's survey.