Almost every major economic report or earnings announcement last week shed some light on the state of inflation, including how consumers and businesses were coping with surging prices.
The bottom line: Though economists think we may be at or near a "peak," prices have continued to swell at decades-high rates.
Last Tuesday, we learned the Consumer Price Index (CPI) jumped by 8.5% year-over-year (YOY), the largest increase since December 1981.
I think we all recognize inflation is happening, and no one is happy about it.
While economists agree that inflation is likely to stay high for at least a while, many seem to also agree that the rate of price increases has peaked or is very close to a top.
Take a look at some of these headlines:
"Core CPI Inflation Likely Peaks at 6.5% in March "- Goldman Sachs
"March CPI recap: Finally at the peak "- Deutsche Bank
"Peak inflation "- JPMorgan
Inflation has been a top concern for businesses and consumers for about a year. Yet, consumers have so far continued to spend increasingly, and businesses have generated record profits supported by fat margins.
With analysts claiming we're near the summit, now's a great time to evaluate our options and plans for the descent down.
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