The survey indicates a significant shift from last month, when only 46% expected a hike. Approximately three quarters of respondents believe the inflation problem is broader than just energy prices, with higher oil prices cited as a main reason for the change in view. CPI forecasts for 2026 and 2027 have risen, with the average forecast for this year nearing 3.5% and settling at 2.85% in 2027. Despite the shift to multiple rate hike forecasts, the growth outlook and recession concerns remain largely unchanged.