If This Is Peak Inflation, What’s the Path Back to 2%?
The most recent Bloomberg survey of economists shows an expectation for headline CPI to retreat to 3.7% in 2022 and then 2.3% in 2023. That reflects remarkable confidence in inflation auto-correcting without much immediate Fed action.
There’s been some easing in energy costs, but just as that starts to fade, housing is starting to cause headaches. Rent and what’s known as “owners’ equivalent rent” both increased 0.4% in November which comes out to an almost 5% annual rate.
Brian Chappatta Bloomberg 10 december 2021
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