AmiSight 5/4: Are We Past Peak Inflation?
Recently, I read an article that suggested we may be getting over the hump of peak inflation.
While this is promising news, I have no idea if that's actually true. After hitting a 41 year high in March, inflation has been on the top of consumers and business owners' minds alike. So what makes economists think it's starting to wane? Certain inflation gauges are showing cooling, shipping prices are going down, and most Americans do not expect inflation to get worse.
How does what we think affect inflation? If Americans believe inflation is going to continue on an upward trajectory, they try to buy before prices go even higher, effectively raising demand and therefore prices. Luckily, that is not what we're seeing. However, all of this will take time and it may be awhile before we actually start to see any changes to our balance sheets.
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