High Inflation Expected To Last Well Into 2022
High inflation will last well into 2022, economists say, indicating that supply chain bottlenecks will keep increasing prices and curbing production.
Experts expect to see average inflation of 5.25% in December, slightly down from the current maximum predicted 5.4% figure, according to The Wall Street Journal. If inflation stays around its current level, Americans will experience the longest period during which inflation has stayed above 5% since 1991.
“It’s a perfect storm: supply-chain bottlenecks, tight labor markets, ultra-easy monetary and fiscal policies,” Michael Moran, Daiwa Capital Markets America’s chief economist, told the WSJ.
America’s shelter inflation could climb to 4-6% by the end of 2022 https://t.co/YohcsxdhWh
— The Economist (@TheEconomist) October 18, 2021
Economists believe that consumer price inflation will drop to 3.4% by June 2022 and 2.6% by the end of 2022, according to the WSJ. These figures remain 1.8% above the inflation level seen before the COVID-19 pandemic. (Read more from “High Inflation Expected To Last Well Into 2022” HERE)
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