Inflation predictions for ending 2022 and into 2023

Inflation in 2022 has been relatively low, with the Consumer Price Index (CPI) rising by an average of 1.8% according to data from the Bureau of Labor Statistics. This is slightly below the Federal Reserve’s target inflation rate of 2%, which is considered to be healthy for the economy.

Looking ahead to 2023, economists are predicting that inflation will continue to remain low, with some predicting that it may even dip slightly below the 2% target. This is due in part to the ongoing effects of the COVID-19 pandemic, which has led to a decrease in demand for goods and services and has put downward pressure on prices.

Additionally, the Federal Reserve has indicated that it will continue to maintain a loose monetary policy in order to support the economy and help it recover from the pandemic. This is likely to keep interest rates low and may also contribute to low levels of inflation.

Overall, it seems that 2023 is shaping up to be a year of relatively low inflation, with few major price increases expected. This is good news for consumers, as it means that their purchasing power is likely to remain strong and they will be able to continue to buy the goods and services they need at affordable prices.

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