U.S. executives said, on average, that they expected a 3.9% inflation level, while the European expectations averaged 2.5%.

More See the U.S. in Mid-Recovery

On recovery-related topics, 46% of U.S. finance chiefs saw the American economy as in the middle of a recovery, up from 28% saying that in the prior quarter's survey. Nearly a third in the recent survey expect a recover by next year's first half. While 59% supported the Fed's decision to keep interest rates low, 32% said it was time to start increasing the rate. In the earlier quarter, 24% said rates should rise.

Asked about the Dodd-Frank Wall Street Reform and Consumer Protection Act, CFOs said they weren't adding extra hours to prepare for reforms, but 70% of CFOs to whom the act applies said they allocated more resources to understanding it. CFOs most supported the provision that make credit rating firms liable for faulty initial ratings (23%) with support of whistleblower award programs not far behind (17%.)

Asked if they would support a temporary change in the law to allow repatriation of foreign earnings by American companies operating overseas, 85% said yes. But 55% said that repatriations should be part of a comprehensive corporate tax reform plan, with 35% saying the reform should be independent.