Goldman: Inflation Will Get Worse Before It Gets Better
It has not been a good year for Goldman’s economists in their dismal attempts to predict what transitory persistent inflation will do as the year progressed. As the following summary sheet notes, what started off in April as a forecast for 2.77% year-end inflation has singe ballooned into the realization that Headline CPI will be 6.31%. And judging by the 45bps monthly increase in inflation estimates this number will only get higher.